Political Scientists Are Primarily Interested in How People's Preferences for Various

question 13

True/False

Political scientists are primarily interested in how people's preferences for various goods and services are satisfied.

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Definitions:

Consumption

The use of goods and services by households or individuals, which is a primary component of economic activity.

Income

The cash flow generated out of work or investments, typically on a steady basis.

Utility Function

A mathematical representation of a consumer's preference ranking over bundles of goods, showing the level of satisfaction or utility derived.

Commodity

A basic good used in commerce that is interchangeable with other goods of the same type; commodities are often used as inputs in the production of other goods or services.