The Term Utility Is Used by Economists in Describing Consumer

question 217

True/False

The term utility is used by economists in describing consumer preferences.

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Definitions:

Prototypical Characteristics

Attributes or qualities that are representative of a particular category or class, serving as a typical example or standard.

Leadership Categorization Theory

A theory suggesting that individuals instinctively evaluate leaders based on how closely their attributes match predefined categories or stereotypes of leadership.

Implicit Leadership Theory

A concept suggesting that people have implicit beliefs and convictions about the attributes that distinguish leaders from non-leaders.

Leader Traits

The inherent qualities or characteristics that are thought to make an individual effective as a leader.