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Group Effort
Economie en bedrijf Leerjaar 10–12 (15–18 jaar)

Group Effort

Applied Knowledge about the Consumers behavior

Gedeeld door Jonathan Pacete 2 uur geleden 20 V 0 keer overgenomen
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1

In economics, utility refers to:

A The income earned by an individual
B The level of satisfaction derived from consuming a good
C The monetary price of a commodity
D The quantity of goods available in the market
2

If a consumer prefers Good A over Good B, this means that the consumer:

A Pays more for Good A
B Derives higher utility from Good A
C Has a higher income
D Consumes more of Good B
3

Why do individuals attempt to maximize utility?

A Resources such as income and wealth are unlimited
B Consumers always prefer expensive goods
C Resources such as income and wealth are scarce
D Prices are always constant
4

Marginal utility refers to:

A The average income of a consumer
B The additional satisfaction from consuming an additional unit
C The price paid for one unit of a good
D The total satisfaction from all units consumed
5

A student receives 4 units of utility from the first serving of dessert and 3 additional units from the second serving. The marginal utility of the second serving is:

A 4
B 1
C 3
D 7

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