Graeme Works at a Plant That Turns Trees Killed by the Pine

question 4

Multiple Choice

Graeme works at a plant that turns trees killed by the pine beetle infestation into beautiful "blue wood" furnishings.Which sector of the economy is he engaged in?

• A)the primary sector
• B)the secondary sector
• C)the tertiary sector
• D)the social reproduction sector

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Definitions:

Total Utility

Full contentment gained from the intake of a particular total volume of a good or service.

Marginal Utility

The additional satisfaction or utility that a consumer experiences from consuming one more unit of a good or service.

Consumer Surplus

The incongruity between the maximum amount consumers are willing and able to pay for a good or service and the actual amount they end up paying.

Total Utility

The overall satisfaction or pleasure a consumer derives from consuming a certain amount or combination of goods and services.