In Microeconomic Terms, the Ability of a Good or a Service

question 66

Multiple Choice

In microeconomic terms, the ability of a good or a service to satisfy wants is called:

• A) opportunity cost.
• B) utility.
• C) utility maximization.
• D) profit potential.

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Definitions:

5 Ws And H

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PR Goals

Objectives set by public relations professionals aiming to improve an organization’s reputation, relationships, and engagement with its audiences.

Communication

The process of sharing or exchanging information, ideas, or messages through speech, writing, or other mediums.

Inform

To provide facts or information with the intention to educate or update knowledge on a certain topic.