Firefox https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=14164619&cmid=622809
UNISA 2023 ECS1501-23-S2 Assessments Assessment 8
QUIZ
Started on Friday, 13 October 2023, 9:05 PM
State Finished
Completed on Friday, 13 October 2023, 9:25 PM
Time taken 20 mins 1 sec
Marks 12.00/12.00
Grade 100.00 out of 100.00
Question 1 I con�rm
Complete
that this assessment will be my own individual work;
Not graded
that I will not communicate with anyone else in any way during the completion of this assessment;
that I will not cheat in any way in completing and submitting this assessment.
I con�rm.
I do not con�rm.
,10/13/23, 11:15 PM Assessment 8: Attempt review
UNISA 2023 ECS1501-23-S2 Assessments Assessment 8
QUIZ
Started on Friday, 13 October 2023, 10:53 PM
State Finished
Completed on Friday, 13 October 2023, 11:14 PM
Time taken 20 mins 22 secs
Marks 12.00/12.00
Grade 100.00 out of 100.00
Question 1
Complete
Not graded
I confirm
that this assessment will be my own individual work;
that I will not communicate with anyone else in any way during the completion of this assessment;
that I will not cheat in any way in completing and submitting this assessment.
I confirm.
I do not confirm.
Question 2
Complete
Mark 1.00 out of 1.00
What does an economist understand by the term “utility”?
how often we consume a good
how much satisfaction or benefit we get from consuming a good
how much satisfaction a consumer gets from the substitution of one good for another
how much it costs to buy a good
In economics, utility refers to the subjective measure of satisfaction or benefit that individuals derive from consuming goods and services.
It is a concept used to understand and analyse consumer behaviour and choices. Utility is about the satisfaction the consumer gets from
consuming a good and not how often the good is consumed or how much it cost.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=14166653&cmid=622809 1/11
,10/14/23, 9:13 AM Assessment 8: Attempt review
UNISA 2023 ECS1501-23-S2 Assessments Assessment 8
QUIZ
Started on Friday, 13 October 2023, 10:53 PM
State Finished
Completed on Friday, 13 October 2023, 11:14 PM
Time taken 20 mins 22 secs
Marks 12.00/12.00
Grade 100.00 out of 100.00
Question 1
Complete
Not graded
I confirm
that this assessment will be my own individual work;
that I will not communicate with anyone else in any way during the completion of this assessment;
that I will not cheat in any way in completing and submitting this assessment.
I confirm.
I do not confirm.
Question 2
Complete
Mark 1.00 out of 1.00
What does an economist understand by the term “utility”?
how often we consume a good
how much satisfaction or benefit we get from consuming a good
how much satisfaction a consumer gets from the substitution of one good for another
how much it costs to buy a good
In economics, utility refers to the subjective measure of satisfaction or benefit that individuals derive from consuming goods and services.
It is a concept used to understand and analyse consumer behaviour and choices. Utility is about the satisfaction the consumer gets from
consuming a good and not how often the good is consumed or how much it cost.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=14166653&cmid=622809 1/11
, 10/14/23, 1:06 PM Assessment 8: Attempt review
ECS1501-23-S2 Assessments Assessment 8
QUIZ
Started on Saturday, 14 October 2023, 12:43 PM
State Finished
Completed on Saturday, 14 October 2023, 1:05 PM
Time taken 21 mins 56 secs
Marks 12.00/12.00
Grade 100.00 out of 100.00
Question 1
Complete
Not graded
I confirm
that this assessment will be my own individual work;
that I will not communicate with anyone else in any way during the completion of this assessment;
that I will not cheat in any way in completing and submitting this assessment.
I confirm.
I do not confirm.
Question 2
Complete
Mark 1.00 out of 1.00
Which one of the following is a feature of utility?
Utility always rises at a constant rate.
Utility is a measure of satisfaction gained from producing a good.
When consuming the same good, utility varies across individuals.
The utility a consumer gains from consuming a product is determined objectively.
When consuming the same good, utility varies across individuals.
Utility is a subjective concept that varies from person to person. It represents the satisfaction or benefit an individual derives from
consuming a good or service. Different individuals have different preferences, tastes, and preferences, which lead to variations in the utility
they derive from consuming the same good.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=14170512&cmid=622809 1/9
UNISA 2023 ECS1501-23-S2 Assessments Assessment 8
QUIZ
Started on Friday, 13 October 2023, 9:05 PM
State Finished
Completed on Friday, 13 October 2023, 9:25 PM
Time taken 20 mins 1 sec
Marks 12.00/12.00
Grade 100.00 out of 100.00
Question 1 I con�rm
Complete
that this assessment will be my own individual work;
Not graded
that I will not communicate with anyone else in any way during the completion of this assessment;
that I will not cheat in any way in completing and submitting this assessment.
I con�rm.
I do not con�rm.
,10/13/23, 11:15 PM Assessment 8: Attempt review
UNISA 2023 ECS1501-23-S2 Assessments Assessment 8
QUIZ
Started on Friday, 13 October 2023, 10:53 PM
State Finished
Completed on Friday, 13 October 2023, 11:14 PM
Time taken 20 mins 22 secs
Marks 12.00/12.00
Grade 100.00 out of 100.00
Question 1
Complete
Not graded
I confirm
that this assessment will be my own individual work;
that I will not communicate with anyone else in any way during the completion of this assessment;
that I will not cheat in any way in completing and submitting this assessment.
I confirm.
I do not confirm.
Question 2
Complete
Mark 1.00 out of 1.00
What does an economist understand by the term “utility”?
how often we consume a good
how much satisfaction or benefit we get from consuming a good
how much satisfaction a consumer gets from the substitution of one good for another
how much it costs to buy a good
In economics, utility refers to the subjective measure of satisfaction or benefit that individuals derive from consuming goods and services.
It is a concept used to understand and analyse consumer behaviour and choices. Utility is about the satisfaction the consumer gets from
consuming a good and not how often the good is consumed or how much it cost.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=14166653&cmid=622809 1/11
,10/14/23, 9:13 AM Assessment 8: Attempt review
UNISA 2023 ECS1501-23-S2 Assessments Assessment 8
QUIZ
Started on Friday, 13 October 2023, 10:53 PM
State Finished
Completed on Friday, 13 October 2023, 11:14 PM
Time taken 20 mins 22 secs
Marks 12.00/12.00
Grade 100.00 out of 100.00
Question 1
Complete
Not graded
I confirm
that this assessment will be my own individual work;
that I will not communicate with anyone else in any way during the completion of this assessment;
that I will not cheat in any way in completing and submitting this assessment.
I confirm.
I do not confirm.
Question 2
Complete
Mark 1.00 out of 1.00
What does an economist understand by the term “utility”?
how often we consume a good
how much satisfaction or benefit we get from consuming a good
how much satisfaction a consumer gets from the substitution of one good for another
how much it costs to buy a good
In economics, utility refers to the subjective measure of satisfaction or benefit that individuals derive from consuming goods and services.
It is a concept used to understand and analyse consumer behaviour and choices. Utility is about the satisfaction the consumer gets from
consuming a good and not how often the good is consumed or how much it cost.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=14166653&cmid=622809 1/11
, 10/14/23, 1:06 PM Assessment 8: Attempt review
ECS1501-23-S2 Assessments Assessment 8
QUIZ
Started on Saturday, 14 October 2023, 12:43 PM
State Finished
Completed on Saturday, 14 October 2023, 1:05 PM
Time taken 21 mins 56 secs
Marks 12.00/12.00
Grade 100.00 out of 100.00
Question 1
Complete
Not graded
I confirm
that this assessment will be my own individual work;
that I will not communicate with anyone else in any way during the completion of this assessment;
that I will not cheat in any way in completing and submitting this assessment.
I confirm.
I do not confirm.
Question 2
Complete
Mark 1.00 out of 1.00
Which one of the following is a feature of utility?
Utility always rises at a constant rate.
Utility is a measure of satisfaction gained from producing a good.
When consuming the same good, utility varies across individuals.
The utility a consumer gains from consuming a product is determined objectively.
When consuming the same good, utility varies across individuals.
Utility is a subjective concept that varies from person to person. It represents the satisfaction or benefit an individual derives from
consuming a good or service. Different individuals have different preferences, tastes, and preferences, which lead to variations in the utility
they derive from consuming the same good.
https://mymodules.dtls.unisa.ac.za/mod/quiz/review.php?attempt=14170512&cmid=622809 1/9
