The Benefit from a Good or Service That You Purchase

question 201

Multiple Choice

The benefit from a good or service that you purchase is measured by

• A)the dollar amount that is paid for the good or service.
• B)the dollar amount you can get by selling the good or service.
• C)what you are willing to give up to obtain the good or service.
• D)how strong the incentives were that led to buying the good or service.
• E)None of the above answers is correct because there is no way to measure the benefit you receive from purchasing a good or service.

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Definitions:

Mass Media

Channels of communication such as television, newspapers, radio, and the internet that reach a large audience, influencing public opinion and disseminating information.

Public Domain

Information, resources, and creative works that are not owned by individuals or corporations and are available for public use without permission.

Television

An electronic device that receives broadcast signals and displays them as moving images with sound, serving as a primary source of entertainment and information.

Peer Group

Is composed of people who are about the same age and of similar status as the individual. The peer group acts as an agent of socialization.