Which Is an Example of Knowledge

question 20

Multiple Choice

Which is an example of knowledge?

• A)A map giving detailed driving directions from one location to another.
• B)An up-to-the-minute traffic bulletin along the freeway that indicates a traffic slowdown due to construction.
• C)Awareness of an alternative,back-roads route to avoid traffic and construction in order to reach a destination as quickly as possible.
• D)All of the above.

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Definitions:

Marginal Utility

The additional contentment or value obtained by consuming one more unit of a good or service.

Utility-maximizing Combination

is a selection of goods and services that provides the highest level of satisfaction or utility to an individual, given their budget constraints.

Total Utility

The total satisfaction received from consuming a particular amount of goods or services.

Technological Advance

The process of developing and applying new technologies and innovations, improving methods of production, efficiency, and creating new products or services.