Asked by
Natalie Stone
on Oct 09, 2024
Verified
Consumers spend their incomes to get the maximum benefit or satisfaction from the goods and services they purchase.This is a reflection of:
A) resource scarcity and the necessity of choice.
B) purposeful behavior.
C) marginal costs that exceed marginal benefits.
D) the trade-off problem that exists between competing goals.
Maximum Benefit
The highest level of advantage or gain that can be achieved from an action or decision, considering all relevant constraints and alternatives.
Satisfaction
The feeling of pleasure or fulfillment that comes from meeting or exceeding expectations.
- Acquire an understanding of the utility principle and its impact on driving consumer actions.
- Comprehend the function of purpose-driven conduct in the realm of economic decision-making.
Verified Answer
YG
Learning Objectives
- Acquire an understanding of the utility principle and its impact on driving consumer actions.
- Comprehend the function of purpose-driven conduct in the realm of economic decision-making.