a feeling of lack of satisfaction give economic terms
Answers
Answer:
Human wants can be satisfied by the use of material objects or by personal services. Thus, hunger can be satisfied by eating bread which is a material object. The desire for music can be satisfied by hearing a song sung by a singer. What a musician performs is a service.
Utility may be created by changing the shape of matter. When a carpenter makes a chair out of a pieces of wood, he creates a thing which is more useful to men than pieces of wood. This type of utility is form utility.
Explanation:
Our wants are satisfied by goods and services. Goods, commodities, products or articles refer to material objects.
Goods refer to tangible commodities which contribute positively to consumer welfare. These use distinguished from bads. Services are nonmaterial; they represent the actions of individuals, like medical examination of a patient by a doctor, song of a singer, or a lecture by a professor. The capacity or the quality of a good or service to satisfy a want is called utility. Utility denotes the importance/the significance, or the usefulness which we find in a good or in a service.
Answer:
Human wants can be satisfied by the use of material objects by personal services. Thus, hunger can be satisfied eating bread which is a material object. The desire for music be steatisfed by hearing song sung by a singer what a musician performs a sorvices. Utility mag be created by changing the shape of matter When & compenter makes a chair out of a pleace of wood, he escates a thing which is more useful to men than peace of wood. This type of whility is from utility