Examlex

Solved

Which of the Following Statements Is Correct

question 110

Multiple Choice

Which of the following statements is correct?


Definitions:

Marginal Utility

The additional satisfaction or usefulness gained from consuming one more unit of a good or service.

Risk-averse

Describes individuals or entities that prefer to avoid risk and would rather choose a certain outcome over a gamble with a potentially higher, but uncertain, return.

Diminishing Marginal Utility

An economic principle that asserts the added satisfaction a consumer gains from consuming one more unit of a good or service decreases with each additional unit consumed.

Fundamental Analysis

The study of a company’s accounting statements and future prospects to determine its value

Related Questions