Pluto Has Recently Lost Its Designation as a Planet; Instead,it

question 24

Short Answer

Pluto has recently lost its designation as a planet; instead,it is classified as a ____________________.

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Definitions:

Income

The financial benefit achieved regularly through employment or committing capital.

Utility Function

A mathematical representation in economics that assigns a value to each possible choice or bundle of goods to reflect the satisfaction or happiness a consumer derives from it.

Consumption

The application of goods and services by domestic units.

Interest Rate

The percentage of a sum of money charged for its use, determining the cost of borrowing or the return on investment.