Distributive Justice Refers to the Perceived Fairness of the Process

question 86

True/False

Distributive justice refers to the perceived fairness of the process used to determine the distribution of rewards.

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Definitions:

Income Effect

The variation in a person's or an economy's earnings and its effect on the amount of a product or service that is requested.

Money Income

The total amount of monetary earnings or receipts accruing to an individual or household over a specified period of time.

Purchasing Power

The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy.

Market Demand Curve

A graphical representation showing the quantity of a good that consumers are willing and able to purchase at different price points, holding other factors constant.