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Which of these terms means "the level of satisfaction a need or want provides"? 1.Choice 2.Scarcity 3.Utility 4.Opportunity cost
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Which of these terms means "the level of satisfaction a need or want provides"?

1.Choice
2.Scarcity
3.Utility
4.Opportunity cost

User Marek Dzikiewicz
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8.0k points

1 Answer

3 votes
"Utility" would be the best option for "the level of satisfaction a need or want provides" in the realm of economics, since a person "utilizes" something in order to get this satisfaction. 
User Divyesh Patel
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