Question

which economic term describes the extra satisfaction gained from using one more unit of a good or service? demand supply marginal utility cost what is \scarcity\ in economics? having more resources than you need unlimited wants with limited resources everyone getting exactly what they need prices dropping fast

Explanation:

• For the first question, marginal utility is defined as the additional satisfaction a consumer gets from consuming one more unit of a good or service. Demand refers to the quantity of a good or service that consumers are willing and able to buy at various prices. Supply is the quantity of a good or service that producers are willing and able to offer for sale at various prices. Cost is the amount of money or resources used to produce or obtain something.
• For the second question, scarcity in economics is about the situation where people have unlimited wants but the resources available to satisfy those wants are limited. Having more resources than you need is the opposite of scarcity. Everyone getting exactly what they need is an ideal - not related to scarcity. Prices dropping fast is related to market changes and not the definition of scarcity.

Answer:

• First question: C. Marginal utility
• Second question: B. Unlimited wants with limited resources