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Economists measure the personal satisfaction someone gets from consuming goods and services with the concept of

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Erudite1 Erudite1

04-07-2017

Economists measure the personal satisfaction derived from consuming goods and services with the concept of UTILITY. Utility refers to the total satisfaction derived from consuming a good or service. The utility of a good or service has direct influence on demand and therefore price of that product.

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21-07-2021

Answer: Utility

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