Econ Unit 1 FA Dummy 3, 2025-26

A study found that as consumers bought more ice cream, their satisfaction increased but at a decreasing rate. Which concept does this study illustrate?

• Utility

• Supply Constraints

• Comparative Advantage

• Opportunity Cost

Jane decides to buy a second cup of coffee despite feeling less energized after the first. Her decision is based on the concept of:

• Utility

• Cost-Benefit Analysis

• Budget Deficit

• Market Equilibrium

A consumer compares the enjoyment gained from different snack choices and picks the one with the highest personal satisfaction. This choice reflects the idea of:

• Utility

• Aggregate Demand

• Price Elasticity

• Marginal Productivity

When a government evaluates policies by considering how much satisfaction citizens gain from public goods, it is using the concept of:

• Utility

• Fiscal Policy

• Price Controls

• Externalities

A company surveys customers to measure how much happiness they receive from a new product. This approach is directly related to:

• Utility

• Market Share

• Cost Structure

• Supply Chain

In a scenario where a family decides between a vacation or saving money, their final choice depends on which option offers greater:

• Utility

• Debt Financing

• Interest Rate

• Capital Investment

What term refers to decisions made by people about what actions to take, which also involve deciding what not to do?

• Individual choice

• Social conformity

• Groupthink

• Collective behavior

Which concept involves making personal decisions that include choosing among alternatives and rejecting others?

• Individual choice

• Social loafing

• Cognitive dissonance

• Observational learning

The process of deciding between different options, including what not to pursue, is known as:

• Individual choice

• Group decision-making

• Emotional regulation

• Habit formation

In a study where participants had to select between two tasks, the concept that describes their decision-making, including what they chose to avoid, is:

• Individual choice

• Social facilitation

• Classical conditioning

• Group polarization