Match Each Description with the Item Below

question 60

Multiple Choice

Match each description with the item below.
-Chester Nimitz

• A)was an American admiral in the Pacific
• B)was secretary of war during the Second World War
• C)was Democratic presidential candidate in 1940
• D)ordered the use of atomic bombs against Japan
• E)directed the construction of atomic bombs
• F)led the invasion of the Philippines during the Second World War
• G)planned the invasion of Normandy
• H)drew up the Atlantic Charter with an American president
• I)was the senator who led the committee that coined the term "merchants of death"
• J)became the leader of the Soviet Union following Vladimir Lenin's death

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Definitions:

Utility Theory

A concept in economics that suggests individuals make decisions based on the expected utility or satisfaction they will derive from those decisions.

Consumer Surplus

The disparity between what consumers are inclined and financially able to spend on a good or service compared to what they ultimately pay.

Marginal Utility

The boost in satisfaction or utility a person enjoys from consuming another unit of a good or service.

Total Utility

The overall satisfaction or benefit a consumer derives from consuming a certain quantity of a good or service.