The Ability of a Good or Service to Satisfy Wants

question 336

Multiple Choice

The ability of a good or service to satisfy wants is called

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

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Definitions:

Merchandise Valued

The total worth of goods held by a company for the purpose of resale.

British Pound

The currency of the United Kingdom, represented by the symbol £ and widely used in Britain and its territories.

U.S. Currency

Money issued by the United States, including banknotes and coins.

Compute

To calculate or determine something by mathematical or logical methods.