To an Economist, Utility Is

question 166

Multiple Choice

To an economist, utility is

• A) identical to profit.
• B) a measurement of consumer satisfaction.
• C) measured in kilowatt hours.
• D) the usefulness of a product.

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Definitions:

Open

Susceptible to new experiences, ideas, or suggestions without immediate judgment or resistance.

Spontaneous

Occurring naturally, without being planned in advance or prompted by external influences.

Psychoanalytic Perspective

A theory in psychology which asserts that psychological issues stem from unconscious conflicts rooted in childhood experiences.

Unconscious Conflict

Psychological struggles within the unconscious mind, often stemming from repressed thoughts or feelings, that can influence behavior and emotions.