Jevons' principle of utility also includes which aspect of value?
Service
Cost
Use
Consumer
Answer
**Consumer:** Jevons' principle of utility incorporates the consumer's perspective in determining the value of goods. It suggests that the value of a good or service is not inherent but rather subjective and dependent on the satisfaction or utility it provides to the consumer. This principle emphasizes that value is not solely based on production costs or objective features, but rather on the subjective preferences and needs of the consumer.
Unlocking the Genius of William Stanley Jevons: A Voyage Through Economic Thought and Logical Mastery
More Questions
Related Quizzes
Subscribe Now!
Learn something
new everyday
Playing quizzes is free! We send 1 quiz every week to your inbox