Question

Given options, an individual will _________ to consume things that give the ______________ , with __________ utility (satisfaction) as more of the need is satisfied.

a) Choose; Highest pleasure; diminishing
b) Refuse; Lowest discomfort; increasing
c) Tend; Greatest benefit; constant
d) Avoid; Minimal inconvenience; fluctuating

Answer 1

The correct fill-in-the-blank response is that an individual will choose to consume items for the highest pleasure with diminishing utility.

Step-by-step explanation:

Given options, an individual will choose to consume things that give the highest pleasure, with diminishing utility (satisfaction) as more of the need is satisfied. This statement encapsulates the law of diminishing marginal utility, which posits that while the utility derived from each additional unit consumed typically decreases, individuals will naturally gravitate towards choices that maximize their utility or satisfaction. This concept is especially relevant in discussions on consumer choices, where individuals weigh the satisfaction gained against the cost of their decisions.