A Product Has Utility If It

question 212

Multiple Choice

A product has utility if it

• A)takes more and more resources to produce successive units of it.
• B)violates the law of demand.
• C)satisfies consumer wants.
• D)is useful.

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Definitions:

Inferior Product

A product deemed to be of lower quality or lesser value when compared to others of its kind in the market, often associated with poor construction or defects.

Identity Theft

The theft of a form of identification, such as a name, date of birth, or Social Security number, which is then used to access the victim’s financial resources.

Social Security Number

is a unique nine-digit number assigned to U.S. citizens, permanent residents, and certain temporary residents, used for tracking individuals for Social Security purposes and other identification reasons.

Financial Resources

Assets, funds, or capital available to an individual, organization, or government for spending on various needs or investments.