The Major Application for Steamboats Transporting Freight and Passengers in the United

question 78

Multiple Choice

The major application for steamboats transporting freight and passengers in the United States was on

• A) New England streams.
• B) western and southern rivers.
• C) the Great Lakes.
• D) the Gulf of Mexico.
• E) coastal waterways.

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Definitions:

Utility

A measure of satisfaction, usefulness, or value that an individual receives from consuming a good or service.

Level of Satisfaction

The degree to which needs, desires, or expectations are fulfilled or gratified.

Marginal Utility

The change in satisfaction or utility received by consuming one additional unit of a good or service.

Limited Usefulness

Refers to the notion that a tool, resource, or piece of information is only beneficial or applicable in certain situations or to a certain extent.