Marginal Utility Theory Is About

question 13

Multiple Choice

Marginal utility theory is about

• A)the consumer behaviour that underlies the theory of demand.
• B)proving that demand curves are always downward sloping.
• C)the total satisfaction resulting from the consumption of some good by the consumer.
• D)how producers allocate their scarce resources.
• E)calculating consumer surplus.

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Definitions:

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The norms and standards that a society establishes as acceptable or normal behavior for its members.

Evolutionary Psychology

A field of psychology that examines behavioral processes in terms of their adaptive value for members of a species over the course of many generations.

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The process by which individuals learn the cultural norms and expectations associated with their designated gender through social interactions and media.

Observational Learning

Learning that occurs when an organism’s responding is influenced by the observation of others, who are called models.