The Figure Below Shows the Demand (D) and Supply (S)

question 43

True/False

The figure below shows the demand (D) and supply (S) curves of cocoa in the U.S.Figure 21.4

-Tariffs are considered to be a popular tax in the first world countries who justify them on the basis of the revenue they generate for government spending.

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Definitions:

Institutions

Organizations or complexes of norms and behaviors that are recognized and accepted in society to fulfill collective functions.

Moral Principles

Fundamental beliefs about what is right and wrong that guide ethical decision-making and behavior.

Rawls's Model

A theoretical framework proposed by philosopher John Rawls that emphasizes principles of justice as fairness, including the veil of ignorance and the difference principle.

Impartial

Not biased, fair; treating or affecting all equally.