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You Have to Remember of New Phone Number

question 18

Multiple Choice

You have to remember of new phone number.Instead of remembering each of the seven digits individually (5-5-5-1-2-1-2) ,you remember two numbers (555-1212) .This is an example of _______________.


Definitions:

Progressive Income Tax

A tax system in which the rate of taxation increases as the taxable amount or income increases, making it more proportionately burdensome for wealthier individuals.

Higher Income

A level of earnings or revenue that is above average or an increase in financial earnings.

Marginal Utility

Marginal Utility is the additional satisfaction or benefit gained from consuming one more unit of a product or service.

Total Utility

Total contentment experienced through the use of a particular volume of goods or services.

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