The consumer Word Scramble
|
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
| Question | Answer |
| What is a consumer | A consumer is someone who makes the decision to buy a good or a service |
| What is utility | The amount of benefit or satisfaction you get from a good |
| What is an economic good | An economic good is a product/service which demands a price, supply's utility and is transferable |
| The law of diminishing marginal utility | The law of diminishing marginal utility is that for example, if you have 1 cup of tea and it's lovely, you go on to have a 2nd or 3rd cup but, it just isn't as nice as the first cup |
| What is the equi-marginal principal | It explains the behavior of a consumer in distributing their limited income among various goods and services |
Created by:
rosscallaghan
Popular Economics sets