The ability of a good or service to satisfy wants is called
A)utility maximization.
B)opportunity cost.
C)revenue potential.
D)utility.

Name: The ability of a good or service to satisfy wants is called A)utility maximization. B)opportunity cost. C)revenue potential. D)utility.
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Question

Quizplus · Accepted Answer

Utility is the term used in economics to describe the measure of satisfaction or value that a consumer receives from consuming a good or service.

The Ability of a Good or Service to Satisfy Wants