Figure 27-1.The Figure Shows a Utility Function

question 23

Multiple Choice

Figure 27-1.The figure shows a utility function.
-Refer to Figure 27-1.What is measured along the vertical axis?

• A)risk aversion
• B)marginal utility
• C)utility
• D)the number of units of a good that can be purchased

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Definitions:

Evolution

The process by which different kinds of living organisms are thought to have developed and diversified from earlier forms during the history of the earth.

Drive Theory

A theory of motivation that posits that people are driven to take certain actions in order to reduce the internal tension caused by unmet needs.

Woodworth

Robert S. Woodworth was an influential American psychologist known for his work in experimental psychology and the dynamic theory of motivation and personality.

Bodily Needs

Fundamental physiological requirements for human survival and well-being, such as the need for food, water, and sleep.