The ability of a good to satisfy a want refers to its:
A) usefulness.
B) utility.
C) worthiness.
D) necessity.

Name: The ability of a good to satisfy a want refers to its: A) usefulness. B) utility. C) worthiness. D) necessity.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

Utility refers to the satisfaction or usefulness a good provides in satisfying a want. While usefulness and worthiness are related concepts, they do not fully capture the idea of satisfying a want. Necessity refers to something that is required, but not all wants are necessary.

The Ability of a Good to Satisfy a Want Refers