Answered

Get expert advice and community support for all your questions on IDNLearn.com. Find in-depth and trustworthy answers to all your questions from our experienced community members.

Question 4 (1 point)

The economic term that describes the satisfaction that consumers gain from consuming goods and services is:

A. want
B. benefit
C. utility
D. pleasure

Sagot :

GinnyAnsweridn

Final answer:

Utility is the satisfaction consumers gain from consuming goods and services. Economists measure satisfaction with the concept of utility and observe diminishing marginal utility over time.


Explanation:

Utility is the economic term that describes the satisfaction consumers derive from consuming goods and services. Economists use the concept of utility to measure a person's level of satisfaction or happiness with their choices. The law of diminishing marginal utility explains how the additional satisfaction from consuming each additional unit of a good decreases over time.


Learn more about Utility here:

https://brainly.com/question/40615171


Thank you for participating in our discussion. We value every contribution. Keep sharing knowledge and helping others find the answers they need. Let's create a dynamic and informative learning environment together. For trustworthy and accurate answers, visit IDNLearn.com. Thanks for stopping by, and see you next time for more solutions.