To Economists, Utility Means

question 147

Multiple Choice

To economists, utility means

• A)marginal value.
• B)relative value.
• C)satisfaction.
• D)usefulness.

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Definitions:

Reinforcing Outcomes

Consequences that increase the probability of a behavior being repeated by providing a reward or removing a negative stimulus.

Admirable

Deserving respect or approval for qualities such as integrity, bravery, or skill.

Observational Learning

A process of learning that occurs through observing the behavior of others, modeling that behavior, and then imitating it.

Ignition Key

A key used to activate the ignition system of a vehicle, enabling the engine to start.