The Word 'Util' Has Been Used by Economists in the Past

question 206

Multiple Choice

The word 'util' has been used by economists in the past as an objective measure of utility.Today economists believe that

• A)utility cannot be measured objectively.
• B)utility can be measured objectively because people can use prices of different goods to measure utility.
• C)all of the important conclusions of the economic model of consumer behaviour depend on utility being measured objectively.
• D)the util truly is an objective, rather than a subjective, measure of utility.

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Definitions:

Density-Independent

Factors affecting population growth regardless of the population density, such as natural disasters.

Chemical Changes

Transformations that alter the chemical composition of a substance, resulting in the formation of new substances.

Population Control

Strategies and policies aimed at regulating the growth rate of a population to ensure sustainable resources and quality of life, often including family planning, education, and health care initiatives.

Inbreeding

The mating or breeding of closely related individuals, which can increase the chance of offspring inheriting genetic defects or disorders.