Utility Is a Measure of

question 45

Multiple Choice

Utility is a measure of

• A) output.
• B) usefulness.
• C) satisfaction.
• D) indifference.
• E) demand.

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Definitions:

Per-Unit Tariff

A fixed fee charged by a government on a specific good imported into the country, assessed on a per unit basis.

Voluntary Export Restriction

A self-imposed limitation by exporting countries on the volume of their exports to another country, often to avoid stricter trade barriers.

Import Quota

A government-imposed limit on the quantity or value of goods that can be imported into a country, used to protect domestic industries from foreign competition.

Export Subsidy

A financial assistance given by the government to domestic companies to encourage them to sell their goods abroad.