Social Sciences, asked by rajeswaripanda09, 1 month ago

3. Water Electricity, Rickshaw etc have all something in common, they have been used by people
and hence they are all examples of _ *
(1 Point)
Potential
Patent
Skill
utility ​

Answers

Answered by LallantapUser
2

Answer:

utility is the correct answer

Answered by ribhur2102
0

Water electricity, Rickshaw are all examples of Utility

Explanation:

  • Last option is the correct answer that is the utility
  • Utility term in economic used to referring the total-satisfaction received from consuming or utilizing the service or good.
  • Economic-utility of service directly influence demand & then price of service or good.
  • Practically we cannot quantify and measure consumer's utility.
  • Some economists suggest that utility can estimated indirectly by employing or utilizing the various models

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