Question and answer
In economics, the pleasure, happiness, or satisfaction received from a product is called: (Points : 1) marginal cost. rational outcome. status fulfillment. utility
In economics, the pleasure, happiness, or satisfaction received from a product is called: D. utility.
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Original conversation
User: The role of an assumption in an economic theory is to: (Points : 1) add realism. prove the theory. cover special cases. simplify the theory.

User: In economics, the pleasure, happiness, or satisfaction received from a product is called: (Points : 1) marginal cost. rational outcome. status fulfillment. utility

Weegy: In economics, the pleasure, happiness, or satisfaction received from a product is called: D. utility.
Tweet22|Points 30|

User: Economic profits and losses: (Points : 1) are both considered by economists to be a part of production costs. are essential to the reallocation of resources from less desired goods to more desired goods. have no influence on the composition of the domestic output. equalize the distribution of income in the long run.

Weegy: The answer is: b. are essential to the reallocation of resources from less desired goods to more desired goods.
Koolsum|Points 1456|

User: A normative statement is one that: (Points : 1) is based on the law of averages. applies only to microeconomics. applies only to macroeconomics. is based on value judgments

User: In a capitalistic economy: (Points : 1) consumers can never be sovereign. markets can never be competitive. there is a reliance on the market system. the government owns the means of production.

Weegy: In a capitalistic economy: c)there is a reliance on the market system.
leigh213|Points 0|

User: A competitive economy assumes the existence in each industry of a: (Points : 1) large number of small firms facing a large number of small buyers. few large firms facing a large number of small buyers. large number of small firms facing a few large buyers. few small firms facing a few small buyers.

Weegy: A: large number of small firms facing a large number of small buyers.
Sunshiineluv|Points 678|

User: Which one of the following expressions best states the idea of opportunity cost? (Points : 1) "A penny saved is a penny earned." "He who hesitates is lost." "There is no such thing as a free lunch." "All that glitters is not gold."

Weegy: "There is no such thing as a free lunch." best states the idea of opportunity cost
Expert answered|Marvel2|Points 643|

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Asked 6/30/2013 2:12:05 PM
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The economic function of profits and losses is to: (Points : 1) bring about a more equal distribution of income. signal that resources should be reallocated. eliminate small firms and reduce competition. tell government which industries need to be subsidized.
Weegy: The economic function of profits and losses is to:. signal that resources should be reallocated. User: According to Emerson: "Want is a growing giant whom the coat of Have was never large enough to cover." According to economists, "Want" exceeds "Have" because: (Points : 1) people are greedy. productive resources are limited. human beings are inherently insecure. people are irrational. Weegy: ... (More)
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Expert Answered
Asked 6/30/2013 2:24:37 PM
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