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Economic welfare is mainly related to what?

Answer and explanation

Correct answer: Economic satisfaction from goods and services

Economic welfare refers to the satisfaction or well-being obtained from the consumption and use of goods and services, especially those that have economic value and are scarce. Thus option A is correct. A country’s area, political boundaries, or the colour of its currency does not directly measure the satisfaction people receive from economic resources. Economic welfare is one component of broader social welfare.

Related tags

Economic WelfareSatisfactionGoods And ServicesGdp And WelfareNational Income And Related AggregatesEconomicsClass 11 Mcq

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