In the context of consumer choice theory, utility means:
A) usefulness.
B) satisfaction.
C) practicality.
D) boring.
E) action.

Name: In the context of consumer choice theory, utility means: A) usefulness. B) satisfaction. C) practicality. D) boring. E) action.
Brand: Quizplus
Rating: 4.9 (42 reviews)

Question

Quizplus · Accepted Answer

In consumer choice theory, utility refers to the satisfaction or pleasure that a consumer derives from consuming a particular good or service. Therefore, the best choice is option B - satisfaction.

In the Context of Consumer Choice Theory, Utility Means