Which Statement About the Maximin Principle Is Correct

question 54

Multiple Choice

Which statement about the maximin principle is correct?

• A) Doing well by the better-off group is more important than improving the lot of worst-off groups.
• B) Doing well by the worst-off group is more important than improving the lot of any other group.
• C) Doing well by both the better-off group and worst-off group is equally important.
• D) Doing well by neither the better-off group nor worst-off group is important.

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Definitions:

Petroleum

A natural, flammable liquid found beneath the Earth's surface that is refined into fuel and various chemical products.

Run Out Of Oil

A hypothetical scenario in which the world's reserves of petroleum are depleted, leading to potential energy crises.

Natural Resource Economics

A branch of economics that studies the optimal use and management of natural resources.

Harvesting

The process of gathering ripe crops from the fields, or in a broader business context, the act of capturing value from a business initiative or venture once it has matured.