II. Directions: Read each statement carefully. Write TRUEif the statement is correct, otherwise write FALSE if the statement is wrong. _1. The average Filipino e-commerce shopper spent USD 18 on online consumer goods purchases in 2018. 2. E-Commerce accounts for USD 3 trillion of the world's economy. _3. One of the advantages of e-commerce is inability to touch the products. _4. Many stores offer a wider array of products online than they carry in their brick-and-mortar counterparts. 5. E-commerce is facilitated through the use of electronic devices such as computers, tablets, and smartphone. _1. The law of diminishing marginal utility means that the total utility increases but at a decreasing rate. 2. Total Utility is defined as the sum of the satisfaction that a person can receive from the consumption of all units of a specific product. _3. Consumers lose satisfaction in a product the more they consume it. _4. People are seldom satisfied with one trip to the shops and always want to consume more. _5. Utility function shows how individuals make choices, subject to how much income they have available to spend, and the prices of goods and services.

II. Directions: Read each statement carefully. Write TRUEif the statement is correct, otherwise write FALSE if the statement is wrong. _1. The average Filipino e-commerce shopper spent USD 18 on online consumer goods purchases in 2018. 2. E-Commerce accounts for USD 3 trillion of the world's economy. _3. One of the advantages of e-commerce is inability to touch the products. _4. Many stores offer a wider array of products online than they carry in their brick-and-mortar counterparts. 5. E-commerce is facilitated through the use of electronic devices such as computers, tablets, and smartphone. _1. The law of diminishing marginal utility means that the total utility increases but at a decreasing rate. 2. Total Utility is defined as the sum of the satisfaction that a person can receive from the consumption of all units of a specific product. _3. Consumers lose satisfaction in a product the more they consume it. _4. People are seldom satisfied with one trip to the shops and always want to consume more. _5. Utility function shows how individuals make choices, subject to how much income they have available to spend, and the prices of goods and services.

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter2: Economic Tools And Economic Systems

Section: Chapter Questions

Problem 1.1P

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