The pleasure or satisfaction obtained from goods and services is known as:
A) Price elasticity of demand.
B) Total revenue.
C) Utility.
D) Ceteris paribus.

Question

Quizplus · Accepted Answer

The term "utility" refers to the satisfaction or pleasure that an individual derives from the consumption of goods and services. It is used to measure how much benefit a consumer receives from a particular product or service. Utility can be both subjective and difficult to measure, as it varies from person to person and depends on individual preferences and circumstances.

The Pleasure or Satisfaction Obtained from Goods and Services Is