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stellarik [79]
2 years ago
13

Describe the meaning of utility in economics and explain why it is different from one consumer to another

Social Studies
1 answer:
Ber [7]2 years ago
5 0

Utility is widely used in economic science to explain how consumers or decision makers make their choices in the best way.

Even if it is not possible to measure the utility that a consumer attributes to a specific good, the theory seeks to compare and classify the alternatives of choice to the good.  Is not possible because the consumers have their own parameters and specifics to choose a good.

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The emotional experience that occurs when our beliefs, feelings, and behavior are inconsistent with each other is called: cognit
igomit [66]
This is the definition of: Cognitive Dissonance
5 0
3 years ago
The production of a certain fertilizer emits a gas that keeps away mosquitoes and other insects from the surrounding community.
Gemiola [76]

Answer: Positive externality

Explanation: Positive externality is the concept in which the service produced and the consumption of that service will provide benefit a third party who is not a part of the process.

While producing fertilizer , it is providing a unintentional benefit to the  community surrounding(third party) by keeping the insects away through exerting gases so that they don't cause insect bites or other problem.

Other options are incorrect because negative externalities are negative consequences face by the third party in a process. Comparative externality is related with comparison and pecuniary externality is increment or decrement in market price of service by action of economic actor .      

6 0
3 years ago
What made it possible to develop trade with culture across the dessert
Darya [45]

Answer:

To prepare for a trip, camels would be fattened up for the journey across the desert. Caravans moved at about three miles per hour and it took them 40 days to cross the Sahara Desert. Muslim traders spread Islam throughout Western Africa. Islamic law helped to lower crime rates and also spread the common language of Arabic, thus encouraging trade.

Explanation:

8 0
3 years ago
What are some cultural achievements of Sparta
o-na [289]
<span>Sparta is most commonly known today as the militaristic rival of  enlightened Athens in ancient Greece.  It is remembered for its military accomplishments particularly the heroic defense under King Leonidas of the pass at Thermopylae in 480 BC.</span>
8 0
3 years ago
Suppose a policymaker argues against expanding the United States' nation-building capacities by pointing out the obstacles to so
hichkok12 [17]

Answer:

"Realist" is the correct answer.

Explanation:

  • Realism seems to be a philosophy pretending to somehow describe contemporary political life.
  • Everything always underlines the political limits arising from either the self centered character of humanity as well as the unavailability of a strong central government over the community as well as the country.

Thus the above is the right answer.

8 0
3 years ago
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