ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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Imagine that David is preparing his will and is trying to decide how to divide his assets between his two grown children.
His daughter, Tonya, is a chemical engineer who earns a high income. His son, Terry, opted out of college and went to work
straight out of high school. Now Terry works in construction; he works just as hard as Tanya, but he is less affluent than she
is.
Classify each example of possible ways David could divide his assets based on fairness and distribution as illustrated in the
chapter.
Fairness of equal
Fairness of equal
Fairness of process
Fairness of what is
outcomes
opportunity
eserved or earned
expand button
Transcribed Image Text:Imagine that David is preparing his will and is trying to decide how to divide his assets between his two grown children. His daughter, Tonya, is a chemical engineer who earns a high income. His son, Terry, opted out of college and went to work straight out of high school. Now Terry works in construction; he works just as hard as Tanya, but he is less affluent than she is. Classify each example of possible ways David could divide his assets based on fairness and distribution as illustrated in the chapter. Fairness of equal Fairness of equal Fairness of process Fairness of what is outcomes opportunity eserved or earned
Fairness of equal
Fairness of equal
Fairness of process
Fairness of what is
outcomes
opportunity
eserved or earned
Answer Bank
Leave his money to charity instead
Tell his kids he will leave the money to whoever does the most to take care of him in his old age
Split his wealth evenly between Terry and Tonya
Leave his money to the child whom he thinks deserves more money
Leave Terry his entire wealth to offset the gap between him and his sister
expand button
Transcribed Image Text:Fairness of equal Fairness of equal Fairness of process Fairness of what is outcomes opportunity eserved or earned Answer Bank Leave his money to charity instead Tell his kids he will leave the money to whoever does the most to take care of him in his old age Split his wealth evenly between Terry and Tonya Leave his money to the child whom he thinks deserves more money Leave Terry his entire wealth to offset the gap between him and his sister
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