Examlex
There are five principal types of economic utility that add value to a product or service. Name four of the five and pick one to discuss in more detail.
Productive Capacity
The maximum output that an economy can achieve when using its resources fully and efficiently.
Standard of Living
The degree of wealth and material comfort available to a person or community.
Aggregate Expenditures
are the total amount of spending on goods and services in an economy at a given level of income during a specified period.
Recession
A phase of short-term economic downturn characterized by decreased trading and industrial output, generally recognized by a drop in Gross Domestic Product across two consecutive quarters.
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