"Nature Has Value in and of Itself" Is an Example

question 58

Multiple Choice

"Nature has value in and of itself" is an example of ________.

• A) extrinsic value
• B) extinctive value
• C) instinctive value
• D) intrinsic value

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Definitions:

Total Utility

Measures the total satisfaction or benefit that a person derives from consuming a certain quantity of a good or service.

Utility Schedule

A table showing the different levels of utility or satisfaction derived from consuming varying amounts of a good or service.

Marginal Utility

The boost in satisfaction or usefulness one gets from consuming an extra unit of any good or service.

Total Utility

The total satisfaction or benefit that a consumer derives from consuming a certain quantity of goods or services.