A Good or Service Has Utility If It _____

question 37

Multiple Choice

A good or service has utility if it _____

• A) is useful.
• B) is used in the production process.
• C) demonstrates scarcity.
• D) satisfies consumers.
• E) is labor-saving.

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Definitions:

Behavior Affects

The ways in which emotions and attitudes can influence an individual’s actions or responses to various situations.

Pygmalion Effect

The effect in which elevated expectations result in improved performance.

Encouragement

The act of providing support, confidence, or hope to someone, often leading to increased motivation or morale.

High Expectations

Describes a state where there is an anticipation of excellence or high performance from oneself or others.