Exam (elaborations)
ECS1501 Assignment 8 2024 | Due 9 September 2024
- Course
- Economics IA (ECS1501)
- Institution
- University Of South Africa (Unisa)
ECS1501 Assignment 8 2024 - August 2024
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By: lebelominky • 2 months ago
By: Monza • 4 weeks ago
Content preview
ECS1501ASSIGNMENT 8
DUE AUGUST 2024
2024
, 2024 ECS1501-24-Y Assessments Assessment 8
Started on Wednesday, 28 August
2024, 7:51 AM
State Finished
Completed on Wednesday, 28 August
2024, 8:13 AM
Time taken 29 mins 17 secs
Marks 10.00/11.00
Grade 93.41 out of 100.00
Question 2
Not yet
answered Which one of the following is a feature of utility?
Marked out of
1.00
The utility a consumer gains from consuming a product is determined objectively.
Utility always rises at a constant rate.
Utility is a measure of satisfaction gained from producing a good.
When consuming the same good, utility varies across individuals.
Clear my choice
Question 3
Not yet
answered What does an economist understand by the term “utility”?
Marked out of
1.00
how much it costs to buy a good
how often we consume a good
how much satisfaction a consumer gets from the substitution of one good for another
how much satisfaction or benefit we get from consuming a good
Clear my choice
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