People derive more benefit from the water they use than they do from all...

[Veritas]

Business English Lesson, Advanced Level

ESL/EFL Test #211 "Basic Microeconomics", question 1

A ......... concept in understanding microeconomics is that of utility: utility is how much a product pleases people.

(a) casual
(b) causal
(c) correlative
(d) crucial

Business English Lesson, Advanced Level

ESL/EFL Test #211 "Basic Microeconomics", answer 1

A crucial concept in understanding microeconomics is that of utility: utility is how much a product pleases people.

Correct answer: (d) crucial
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people derive more benefit from the water they use than they do from all the champage they drink. Yet champage costs far more than water .whould champage be more expensive than water if the had the same supply curve and were thus equally scarce , explain!

Veritas

[Mister Micawber]

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Dunno. I just drink beer.
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Native English teacher at Mister Micawber's