In economics,the ability of pumpkin pie to satisfy a want is referred to as its:
A)utility.
B)usefulness.
C)worthiness.
D)necessity.

Name: In economics,the ability of pumpkin pie to satisfy a want is referred to as its: A)utility. B)usefulness. C)worthiness. D)necessity.
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Question

Quizplus · Accepted Answer

Utility refers to the satisfaction or usefulness that a consumer derives from a good or service. Pumpkin pie's ability to satisfy a want is an example of its utility. Options B, C, and D do not accurately capture this concept.

In Economics,the Ability of Pumpkin Pie to Satisfy a Want