Ethical Egoism Is Based on a Belief That People Should

question 7

Multiple Choice

Ethical egoism is based on a belief that people should act in a way that:

• A) maximises the 'good' of the person making the decision
• B) maximises the 'common good'
• C) maximises good to the top stratum of the elite
• D) conforms with the rules established by God

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Definitions:

Marginal Productivity

The increase in output that results from a one-unit increase in an input, holding all other inputs constant.

Labor Unions

Organizations formed by workers to protect their rights and interests through collective bargaining with employers regarding wages, work hours, and working conditions.

Efficiency Wages

Wages that an employer sets above the market equilibrium level to increase worker productivity and loyalty.

Above-Equilibrium

A situation where the price of a good or service is higher than the equilibrium price, leading to a surplus.