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What is type of utility

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What is type of utility

    • Posted by Riya Gupta 5 years, 1 month ago

    CBSE > Class 12 > Economics
    • 1 answers

    Yogita Ingle 5 years, 1 month ago

    The utility may be defined as the power of commodity or services which satisfy the human wants. It has nothing to do with usefulness or harmfulness but simply refers to wheather the goods & services satisfy human beings or not. In economics the goods whether they are useful or not posses utility which can satisfy human wants.
    There are three types of utility:

    • Total utility
    • Marginal utility
    • Average utility

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