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Question
You have already been introduced to Consequential Thinking in the notes on Budgeting, and we have discussed Categorical Thinking in our Kohlberg stages of Moral Development. These are practical applications of the two philosophical approaches to how we live our lives and make decisions. In the closing summary of his lecture, Dr. Sandel offers a different understanding of them when he applies them to ethical behavior. Discuss what you understood about these two streams of though from his lecture.
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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