CMA Foundation Paper 4 (FBEM) Practice Questions - CMA Foundation Paper 4 Fundamentals Of Business Economics And Management Exam

In economics, the term 'utility' refers to:

The usefulness of a commodity in a moral or social sense The market price charged for a commodity The total revenue earned from selling a commodity The want-satisfying power of a commodity or service

Correct Answer:

The want-satisfying power of a commodity or service

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