Question : Utility is connected to:
Option 1: Satisfaction of human wants
Option 2: Morality
Option 3: Usefulness
Option 4: All of the above

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Question : Marshall established the law of Equimarginal Utility:
Option 1: Related to money

Option 2: Related to goods
Option 3: Both of the above
Option 4: All of the above

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Answer 1

Correct Answer: All of the above

Solution : "Utility" describes the overall enjoyment or gain from consuming a good or service.
Utility means usefulness or satisfying the human's want.
It contains morality as these are the decisions that see situations as right or wrong, and always do what is good.
Hence all of the above are correct.

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Question : Utility is connected to:Option 1: Satisfaction of human wantsOption 2: MoralityOption 3: UsefulnessOption 4: All of the above

Related Questions

Question : Marshall established the law of Equimarginal Utility:Option 1: Related to money Option 2: Related to goodsOption 3: Both of the aboveOption 4: All of the above

Question : To ensure maximum consumer satisfaction:Option 1: There is no relation between marginal utility and price.Option 2: The marginal utility of a good should be greater than its price.Option 3: The marginal utility of a good should be equal to its price.Option 4: None of the above

Question : Utility is generally related to?Option 1: RequiredOption 2: Ineffective Option 3: BeneficialOption 4: Satisfaction

Question : Reason/s of economic problem is/are _______Option 1: Scaricity of resourcesOption 2: Unlimited human wantsOption 3: Alternative usesOption 4: All of the above

Question : Difference between resources and human wantsOption 1: Resources are scarce but human wants are unlimitedOption 2: Resources have alternative uses and human wants differ in prioritiesOption 3: Both 1 and 2Option 4: None of these

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Question : Utility is connected to:
Option 1: Satisfaction of human wants
Option 2: Morality
Option 3: Usefulness
Option 4: All of the above

Question : Marshall established the law of Equimarginal Utility:
Option 1: Related to money

Option 2: Related to goods
Option 3: Both of the above
Option 4: All of the above

Question : To ensure maximum consumer satisfaction:
Option 1: There is no relation between marginal utility and price.
Option 2: The marginal utility of a good should be greater than its price.
Option 3: The marginal utility of a good should be equal to its price.
Option 4: None of the above

Question : Utility is generally related to?
Option 1: Required
Option 2: Ineffective

Option 3: Beneficial
Option 4: Satisfaction

Question : Reason/s of economic problem is/are _______
Option 1: Scaricity of resources
Option 2: Unlimited human wants
Option 3: Alternative uses
Option 4: All of the above

Question : Difference between resources and human wants
Option 1: Resources are scarce but human wants are unlimited
Option 2: Resources have alternative uses and human wants differ in priorities
Option 3: Both 1 and 2
Option 4: None of these