The "Equality of Opportunity" Idea of Fairness Claims

question 192

Multiple Choice

The "equality of opportunity" idea of fairness claims

• A) a society should make the poorest as well off as possible.
• B) the results and the rules should both be fair.
• C) it's not fair if the rules aren't fair.
• D) private property can be transferred under government order.
• E) only a first-come, first-served system of allocating resources is fair.

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Definitions:

Trade Credit

A type of commercial financing where a customer is allowed to purchase goods or services and pay the supplier at a later scheduled date.

Operating Plan

A detailed document outlining the day-to-day operations required to run a business, including production, staffing, and inventory management processes.

Financial Planning

The process of estimating the capital required and determining its competition; it is the process of framing financial policies in relation to procurement, investment, and administration of funds of an enterprise.

Strategic

Relating to the identification of long-term or overall aims and interests and the means of achieving them, often involving planning and resource allocation.