Portman, Who Runs a Computer Hardware Store, Had Signed a Contract

question 56

Multiple Choice

Portman, who runs a computer hardware store, had signed a contract with Stewie Inc. to deliver 125 computer monitors. He was to deliver it by the 5th of August, but by the 3rd of August, Portman could not arrange for the monitors, as his usual supplier was not available. Portman then decided to go to another supplier who had a higher selling price rather than cancel the contract with Stewie Inc., as he believed it was his duty to do so. Which of the following moral theories matches Portman's behavior?

• A) Kantian ethics
• B) utilitarianism
• C) Rawls's social justice theory
• D) moral relativism

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Definitions:

Price Elasticity

A measure of the sensitivity of the quantity demanded or quantity supplied of a good to a change in its price.

Perfectly Inelastic

This describes a situation in economics where the demand or supply for a good is completely unresponsive to changes in price.

Fresh Fish

Refers to fish that have been recently caught and have not been frozen or preserved, ensuring maximum freshness and quality.

Price Elasticity

A measure of the responsiveness of the quantity demanded or supplied of a good to a change in its price.