In economics, the pleasure, happiness, or satisfaction received from a product is called
A) marginal cost.
B) rational outcome.
C) status fulfillment.
D) utility.

Question

Quizplus · Accepted Answer

The term used to describe the pleasure, happiness, or satisfaction received from a product is utility. Therefore, the answer is D. Marginal cost refers to the additional cost incurred from producing one more unit of a product, while rational outcome is a decision that is based on reason and logic. Status fulfillment refers to the idea that individuals purchase products to maintain or enhance their social status.

In Economics, the Pleasure, Happiness, or Satisfaction Received from a Product