Asked by
Kiara Howard
on Oct 09, 2024
Verified
For economists,the word "utility" means:
A) versatility and flexibility.
B) rationality.
C) pleasure or satisfaction.
D) purposefulness.
Utility
The satisfaction or benefit that a consumer receives from consuming a good or service.
Pleasure
A feeling of happiness or satisfaction derived from experiencing or consuming something.
Satisfaction
The state of being contented or pleased as a result of experiencing a product, service, or outcome that meets or exceeds expectations.
- Comprehend the concept of utility and its role in influencing the actions of consumers.
Verified Answer
XZ
Learning Objectives
- Comprehend the concept of utility and its role in influencing the actions of consumers.