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What means that the countries must depend on each other for goods and services?
Globalization
Is another name for capacity of a product to be useful?
utility
The orderly transfer of goods and services is --------- utility?
ownership
What satisfaction do consumers get from the goods and services they purchase?
Utility.
What goods and services have utility for people?
There are different goods and services that have utility for people. Some of them include food, health care services, transportation and so much more.
People consume particular goods or use particular services because the goods or services have?
utility
How people use goods and services to satisfy their wants and needs is called?
Utility is the term used to measure the satisfaction of goods purchased and used. The concept of utility is abstract, since every person's utility is different.
Is a sporting goods store that sells fishing licenses at the start of each sport fishing season creating a time utility or a place utility?
time utility。
Increasing marginal utility of goods?
Not possible. Law of Diminishing Marginal utility states that equal additions to a good provide smaller and smaller increases in utility, therefore marginal utility decreases.
What protected India from being severely affected by the economic downturn?
Most of their goods do not depend on other countries
The orderly transfer of goods and services is what kind of utility?
d. ownership
What is Law of Equi-Marginal Utility?
Law of Equi-Marginal Utility explains how a consumer can get maximum satisfaction out of his expenditure on different goods.
