A Personal Moral Philosophy That Focuses on "The Greatest Good

question 89

Multiple Choice

A personal moral philosophy that focuses on "the greatest good for the greatest number" by assessing the costs and benefits of the consequences of ethical behavior is referred to as

• A) utilitarianism.
• B) hedonism.
• C) existentialism.
• D) moral idealism.
• E) socialism.

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Definitions:

Price Ceiling

A maximum limit set by the government on the price of a good or service, intended to protect consumers.

Market Price

The price at which an asset or service is currently being traded in a given market.

Supply Curve

A graphical representation of the relationship between the price of a good or service and the amount that suppliers are willing to offer for sale, typically upward sloping because higher prices incentivize more production.

Quantity Supplied

The amount of a good or service that producers are willing and able to sell at a given price during a specific time period.