Economic activity which is concerned with increasing utility or value of the goods and services is called : *Economic activity which is concerned with increasing utility or value of the goods and services is called : *
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Answer: Utility analysis can be used to illustrate how a change in the price of a good alters the consumer equilibrium combination of goods consumed. According to the law of demand, a change in the demand price of one good results in an opposite change in the quantity demanded of that good.
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