The satisfaction that a consumer gets from the consumption of a bundle of goods and services is:
A)utility.
B)rationalization.
C)budget constraints.
D)income.

Question

Quizplus · Accepted Answer

Utility is the term used to describe the satisfaction that a consumer derives from consuming goods and services. It is a subjective measure of the value of the goods and services to the individual consumer. Rationalization is a psychological defense mechanism and not relevant in this context. Budget constraints and income are important factors in consumption decisions but do not directly measure the satisfaction that the consumer derives from consuming the goods and services.

The Satisfaction That a Consumer Gets from the Consumption of a Bundle