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

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Fabianamiguel2803idn Fabianamiguel2803idn

24-06-2024
Business

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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 :

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GinnyAnsweridn GinnyAnsweridn · Answer 1 · 2024-06-24T21:55:07-04:00

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.

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