Which Economic Concept Would Most Likely Also Be Encountered When

question 5

Multiple Choice

Which economic concept would most likely also be encountered when studying mathematics?

• A) Tariff
• B) Profit
• C) Opportunity cost
• D) Production

---

Definitions:

Utility

A measure of satisfaction or pleasure obtained from consuming goods and services.

Indifference Curves

Graphical representations in economics that show different bundles of goods between which a consumer is indifferent, meaning that the consumer has no preference for one bundle over another.

Concave

A shape or curve that is curved inward, resembling the interior of a circle or sphere, often used in the context of economic functions.

Tangency

A point at which two lines or curves meet without intersecting, often used in economics to find points of optimization, such as in budget constraints or indifference curves.