2. Which of the following is used to determine the value of a good? need and want scarcity and utility capital and scarcity durahility and service

## Step 1<br />The question is asking us to identify the factors that determine the value of a good. In economics, the value of a good is determined by its utility and scarcity. <br /><br />## Step 2<br />Utility refers to the satisfaction or benefit that a consumer receives from consuming a good or service. The more utility a good provides, the more valuable it is considered to be.<br /><br />## Step 3<br />Scarcity, on the other hand, refers to the limited availability of a good. The scarcer a good is, the more valuable it is considered to be.<br /><br />## Step 4<br />The other options provided, such as "need and want", "capital and scarcity", and "durability and service", do not accurately represent the factors that determine the value of a good in economics.