Explain the concept of utility
Utility is a measure of the relative levels of satisfaction that consumers get from the consumption of goods and services. The concept is used to more clearly define the relationship between consumer choice and resource allocation.
Economics
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Cost-push inflation starts with
A) an increase in potential GDP. B) a decrease in aggregate demand. C) a decrease in aggregate supply. D) an increase in aggregate supply. E) an increase in aggregate demand.
Economics
The number of the countries of the world classified as a less developed country (LDC) is about:
a. 50. b. 75. c. 100. d. 150. e. 300.
Economics