Which of the following is used by economists to measure the sat…
Question 9c of 25 - Utility and risk-aversion
- Maximum Attempts: 1
- Question Type: Multiple Choice
- Maximum Score: 2
- Question: Which of the following is used by economists to measure the satisfaction a person gets from the use or consumption of goods and services?
- The concept of utility.
- Marginal analysis.
- A cost-benefit ratio.
- Non-monetary costs and benefit.
The correct answer is: The concept of utility. Utility is a person's satisfaction with the outcomes they get from using goods and service
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