Question
The term utility means
Answer: Option C
Answer: (c)
In economics, ‘Utility,’ refers to the total satisfaction received from consuming a good or service.
It is usually applied by economists in such constructs as the indifference curve, which plots the combination of commodities that an individual or a society would accept to maintain a given level of satisfaction.
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Answer: (c)
In economics, ‘Utility,’ refers to the total satisfaction received from consuming a good or service.
It is usually applied by economists in such constructs as the indifference curve, which plots the combination of commodities that an individual or a society would accept to maintain a given level of satisfaction.
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