When you buy something, you do so because of the satisfaction you expect to receive from having and using that good. Another term that can be used for satisfaction is
A) need.
B) purchasing power.
C) utility.
D) price elasticity.

Question

Quizplus · Accepted Answer

Utility is the term used to describe the satisfaction or usefulness that a consumer receives from a good or service. It is the measure of the total satisfaction one gets from consuming a particular quantity of a good or service. Therefore, of the options given, utility is the most appropriate term to describe satisfaction.

When You Buy Something, You Do So Because of the Satisfaction