<em>Utilitarianism</em> is a philosophical standard by which utility for the greater good is promoted. This means that while the individual's status is degraded, it is acceptable so long as the net benefit or utility gained from the action is sufficiently beneficial for the rest of society/greater good.
Answer:
the hindsight bias.
Explanation:
From the question we are informed about The halo effect which is the tendency to believe that physically attractive people have a host of other positive qualities, such as a high level of intelligence or a good personality. When asked to guess what the halo effect is before learning about it, many mistakenly assume that the reverse is true (that attractive people are seen as less smart or less kind). Once they learn about the effect, however, many say that it is no surprise and that they knew it all along. In this case, This reflects the hindsight bias.
Halo effect can be regarded as tendency of individual to have positive impressions about a person or company as well as brand or product as regards a particular area so that this can positively influence one's opinion and feelings as regards areas. It is a term that define phenomenon in which particular evaluators could be influenced as a result of their previous judgments of performance as well as personality
Hindsight bias on other hand can be regarded as a psychological phenomenon which gives room to people to be able to convince themselves after the occurrence of an event which was been accurately predicted by them before it happened. And this usually give people conclusion that it is possible to predict other events accurately.
The three main characteristics of an efficient property rights structure: exclusivity, transferability, and enforceability.
In standard economics, property rights refer to a bundle of entitlements defining an owner's rights, privileges and limitations to the use of a resource.
Property rights terms refers to social institutions and to not any inherent natural or physical qualities of the resource.
Exclusivity: All the prices and benefits from owning a resource should accrue to the owner.
Transferability: All property rights should be transferable from one owner to a different in an exceedingly voluntary exchange.
Enforceability: Property rights should be secure from seizure or encroachment by others.
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The answer is D. Europe has a high demand for sugar, molasses, and rum.
