________ is a measure of the satisfaction or happiness that comes from consuming a good or service.
A) A budget
B) Utility
C) The income effect
D) The substitution effect

Question

Quizplus · Accepted Answer

Utility is a measure of the satisfaction or happiness that comes from consuming a good or service. Budget refers to the amount of money available for spending. The income effect and substitution effect are both concepts related to changes in price and their effects on consumer behavior, but they are not measures of satisfaction or happiness.

________ Is a Measure of the Satisfaction or Happiness That