1) Jeremy Bentham believed that government should: a. promote the greatest happi
ID: 1114015 • Letter: 1
Question
1)
Jeremy Bentham believed that government should:
a. promote the greatest happiness for the greatest number.
own the means of production.
stay out of the marketplace.
d. be run by economists.
2)
When income decreases, the budget line:
rotates inward.
rotates outward.
shifts outward.
shifts inward.
a. promote the greatest happiness for the greatest number.
b.own the means of production.
c.stay out of the marketplace.
d. be run by economists.
2)
When income decreases, the budget line:
rotates inward.
rotates outward.
shifts outward.
shifts inward.
Explanation / Answer
(1) Jeremy bentam was the proponent of the utilitarian approach. He believed in actions which maxizes the total well being of all. Jeremy Bentham believed that government should promote the greatest happiness for the greatest number.
(2) When income decreases the purcahsing power of the consumer falls and so the budget line shifts inward.
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