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
2
Answer:
utility is the correct answer
Answered by
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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