In economics, the pleasure, happiness, or satisfaction received from a product i
ID: 1179043 • Letter: I
Question
In economics, the pleasure, happiness, or satisfaction received from a product is called:
marginal cost.
rational outcome.
status fulfillment.
utility.
The private ownership of property resources and use of prices to direct and coordinate economic activity is characteristic of: a command system.
a market system.
communism.
socialism.
Explanation / Answer
1) utility.
2) market system.