Weizhe is a surgeon who spends two weeks every summer traveling to remote areas and donating his skills to hospitals in need. From an economic standpoint, utility is gained by:
A)Weizhe's patients.
B)Weizhe, knowing he is doing a good deed.
C)Weizhe, knowing his good deeds will be recognized by others.
D)All of these are correct.

Question

Quizplus · Accepted Answer

Utility, in economic terms, refers to the satisfaction or benefit derived from consuming goods or services. In this scenario, utility is gained by all parties involved: Weizhe's patients gain from the medical services provided, Weizhe gains personal satisfaction from knowing he is doing a good deed, and he may also gain from the recognition of his good deeds by others.

Weizhe Is a Surgeon Who Spends Two Weeks Every Summer