The satisfaction received from consumption is known as _____

Question

Quizplus · Accepted Answer

Utility is the term used to describe the satisfaction or enjoyment that a consumer derives from consuming a good or service. Therefore, option A is the correct choice. Option B is incorrect as a low-valued good refers to a product that has a low price point, which does not necessarily relate to satisfaction. Option C is incorrect as productivity is a measure of output per unit of input, and it has no direct relation to consumer satisfaction. Option D is incorrect as adaptability is the ability to adjust to new conditions, which is not related to the satisfaction received from consumption. Option E is incorrect as efficiency refers to the ability to accomplish a task using the least amount of resources possible and is not related to consumer satisfaction.

The Satisfaction Received from Consumption Is Known as _____