Question

3. Want-satisfying power of a commodity is called:
(a) consumption
(b) utility
(c) production
(d) value addition​

Answer 1

Answer:

b) utility

Explanation:

utility is the want satisfying power of a commodity

Answer 2

Answer:

utility

Explanation:

Utility is a want satisfying power or capacity of a commodity. Utility is the quality in goods to satisfy human wants. Thus, it is said that “Wants satisfying capacity of goods or services is called Utility.”