The other day in my Macroeconomics class we were supposed to have read the notes that were assigned and discuss them in class. Though some students may have read them, including myself, the question about the readings that my professor was asking was just not clicking for us! Our class lasted only 15 minutes long and was unsuccessful because it seemed no one was prepared.
We were talking about utility which is the amount of satisfaction or pleasure the consumer gets out of a good. Utility is measured in Utils and our professor gave us a scenario. "If I just ate a Snickers Bar and I got 5 utils from it, then she (pointing to another student) just ate a Snickers Bar too and got 20 thousand utils out of it, what does that mean." No one had anything to say because it seemed no one knew.
Everyone was frustrated and class got out early. As soon as i got home i went on the computer and looked up in the notes what it was she was asking about utils. It simply said that utils cannot be compared between individuals so the answer was the we could not tell who got more utility out of the Snickers Bar.
Later that night i took the quiz we were supposed to take after reading those notes. Sure enough the first question was just like the scenario our professor gave us and i was so glad i actually knew the answer this time.
When it came time for our next class i was so ready for our professor to ask us again about utils I was about to burst thinking that i knew the answer.
It just goes to show that it pays to be prepared for class. And now i can brag to my family and friends that I know what utils are and they dont!
We were talking about utility which is the amount of satisfaction or pleasure the consumer gets out of a good. Utility is measured in Utils and our professor gave us a scenario. "If I just ate a Snickers Bar and I got 5 utils from it, then she (pointing to another student) just ate a Snickers Bar too and got 20 thousand utils out of it, what does that mean." No one had anything to say because it seemed no one knew.
Everyone was frustrated and class got out early. As soon as i got home i went on the computer and looked up in the notes what it was she was asking about utils. It simply said that utils cannot be compared between individuals so the answer was the we could not tell who got more utility out of the Snickers Bar.
Later that night i took the quiz we were supposed to take after reading those notes. Sure enough the first question was just like the scenario our professor gave us and i was so glad i actually knew the answer this time.
When it came time for our next class i was so ready for our professor to ask us again about utils I was about to burst thinking that i knew the answer.
It just goes to show that it pays to be prepared for class. And now i can brag to my family and friends that I know what utils are and they dont!
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