Question

answer fast its urgent

Suggest the economic Terms for given statements. (5)

1) Provision for making payments in future.
2) Want to satisfy the capacity of the commodity.
3) Loan used for personal consumption.
4) Industry that focuses on customer's satisfaction.
5) Wants which are meant for pleasure and enjoyment:

Answer 1

Answer:

2. The capacity of a commodity to satisfy human want is known as utility. Explanation: Utility refers to the capacity or the power of a commodity to satisfy human wants.