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AP Microeconomics
Unit 1 – Basic Economic Concepts
Topic 1.6
Which of the following best describes utility in economics?
The opportunity cost of consuming a particular good or service.
The total amount of money an individual spends on goods and services.
Satisfaction or the level of usefulness derived from consuming goods and services.
The economic principle that states "more is always better."
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AP Microeconomics - 1.6 Marginal Analysis and Consumer Choice
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Utility
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About Us
About Fiveable
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Terms of Use
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CCPA Privacy Policy
Resources
Cram Mode
AP Score Calculators
Study Guides
Practice Quizzes
Glossary
Crisis Text Line
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© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.
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