What is the economic definition ofâ€‹ utility?

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02-11-2017
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What is the economic definition ofâ€‹ utility?

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abrairak abrairak · Answer 1 · 2017-11-02T04:39:44+01:00

abrairak abrairak

02-11-2017

The capacity of a good or service to meet the demand of a consumer. The amount of economic utility of a good or service determines what the demand will be for that good or service, which impacts the price that people will be willing to pay to obtain it

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stonespivey13 stonespivey13 · Answer 2 · 2020-08-24T16:13:31+02:00

stonespivey13 stonespivey13

24-08-2020

Answer:

Economic utility is the amount of satisfaction a consumer receives from the consumption of a particular product or service.

Explanation:

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