To maximize utility consumers should buy goods and services to the point where the marginal utility of each item consumed is maximized

A set of actions that a firm takes to achieve a goal, such as maximizing profits, is called

A) the Porter's Competitive Forces plan. B) game theory. C) a payoff matrix. D) a business strategy.

When money serves as a standard for comparing values of different things, it is functioning as a

A) store of value. B) hedge against inflation. C) standard of deferred payment. D) unit of accounting.