Solved

Which of the Following Best Describes the Economic Concept of Utility

Question 85

Multiple Choice

Which of the following best describes the economic concept of utility?


A) Utility is the total number of units a consumer buys.
B) Utility measures the usefulness of goods, such as tools or food, and so goods such as artwork or attractive landscaping by definition has no utility.
C) Utility measures the satisfaction, or pleasure, that people receive from consuming a good or service.
D) Utility and price are interchangeable values.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions