ECONOMICS
ECONOMIC SYSTEMS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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What is worth that can be expressed in dollars and cents and must have utility?
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value
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money
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Either A or B
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None of the above
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Explanation:
Detailed explanation-1: -utility and value, in economics, the determination of the prices of goods and services.
Detailed explanation-2: -worth that can be expressed in dollars and cents. *economics.
Detailed explanation-3: -Utility refers to the total satisfaction or value that you get from consuming a particular product or service. Utility values are critical for determining why different goods have different costs and levels of demand. Products with higher utility usually have more demand, meaning they can command higher prices.
Detailed explanation-4: -For something to have value, it must have utility, or the capacity to be useful and provide satisfaction.
There is 1 question to complete.