Which of the Following Is NOT Typically Used to Determine

question 105

Multiple Choice

Which of the following is NOT typically used to determine social class?

• A)income
• B)age
• C)family prestige
• D)occupation
• E)education

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Definitions:

Marginal Utility

The additional satisfaction or utility that a consumer receives from consuming an additional unit of a good or service.

Total Utility

In economics, the total satisfaction received from consuming a particular quantity of goods or services.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.

Marginal Utility

The increased happiness a buyer experiences by consuming an extra unit of a product or service.