The Globe and Mail Publishes Report on Business Magazine Monthly,and

question 53

Multiple Choice

The Globe and Mail publishes Report on Business magazine monthly,and it is included with the newspaper.This magazine is called a:

• A) special audience newspaper
• B) community newspaper
• C) newspaper supplement
• D) national newspaper

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Definitions:

Marginal Utility

The extra satisfaction or benefit gained from consuming an additional unit of a product or service.

Total Utility

The total satisfaction or benefit received by consuming a good or service.

Utility Schedule

A table or chart displaying various combinations of goods or services and the utility or satisfaction obtained from each combination.

Diminishing Marginal Utility

The principle that as a person increases consumption of a product, there is a decline in the marginal utility that person derives from consuming each additional unit of that product.