Utility Measurements Are

question 42

Multiple Choice

Utility measurements are:

• A)a relative ranking of the values a person places on alternative combinations of things.
• B)a relative ranking of how much people enjoy a particular good.
• C)used to compare one person's preference for a good to another person's preference.
• D)None of these is true.

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Definitions:

Decision-Making Situations

Various contexts in which individuals or groups must choose among multiple alternatives to make a decision.

Traditional

Referring to ideas, customs, or practices that have been passed down within a culture or society for generations, often contrasted with modern or innovative approaches.

Directs

Commands or instructions given with authority to guide or control actions.

Responsible

Being accountable or answerable for something, typically involving duty, ethics, or obligations.