If Children Can Ride a Bicycle, Tie Their Own Shoes

question 320

Multiple Choice

If children can ride a bicycle, tie their own shoes, and catch a small ball, they are likely to be at least:

• A) 6 years of age.
• B) 5 years of age.
• C) 4 years of age.
• D) 3 years of age.

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Definitions:

Total Utility

The total satisfaction received from consuming a particular quantity of a good or service.

Day

A unit of time equal to 24 hours, representing one complete rotation of the Earth on its axis.

Marginal Utility

The added satisfaction or utility gained from consuming an additional unit of a good or service.

Spending

Engaging in transactions to acquire goods or services by spending money.