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What is meant by utility

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What is meant by utility

Posted by Manish Sahu 5 years, 1 month ago

CBSE > Class 11 > Economics

2 answers

Neeraj Singh 5 years, 1 month ago

Satisfaction derieved from the consumption of commodity

Yogita Ingle 5 years, 1 month ago

Utility Definition – It is a measure of satisfaction an individual gets from the consumption of the commodities. In other words, it is a measurement of usefulness that a consumer obtains from any good. A utility is a measure of how much one enjoys a movie, favourite food, or other goods. It varies with the amount of desire.

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