Economists use what term to describe the want-satisfying power of a good?
A) Demand
B) Utility
C) Marginal propensity to consume
D) Income elasticity

Question

Quizplus · Accepted Answer

Economists use the term "utility" to describe the want-satisfying power of a good. Utility is a subjective measure of the satisfaction or pleasure that a consumer obtains from the consumption of a good or service.

Economists Use What Term to Describe the Want-Satisfying Power of a Good