In Economics, Another Term for Satisfaction Is

question 18

Multiple Choice

In economics, another term for satisfaction is

• A) income elasticity.
• B) price elasticity.
• C) utility.
• D) marginal productivity.

Identify the assumption of rational behavior in economic models.

Analyze how people weigh observational vs. statistical information in their choices.

Examine the various systematic mistakes commonly made in personal and economic decisions.

Understand the role and impact of inertia in personal financial decisions.