Question

Define Knowledge utility

Answer 1

Knowledge Utility: When the utilityof a commodity increases with the increase in knowledge about its use, it is the creation of knowledge utilitythrough propaganda, advertisement, etc. (7) Natural Utility: All free goods such as water, air, sunshine, etc., possess natural utility.

Answer 2

Explanation:

A commodity's ability to fulfill the energy is called utility. To order to satisfy human needs, it is a quality provided by a product or service. Utility can also be characterized as a commodity's value-in-use because its value-in-use is the enjoyment we get from a commodity's use.

When the usefulness of a commodity increases as knowledge about its use increases, it is the creation of usefulness of knowledge through propaganda, advertising, etc. Thus, the knowledge utility is a utility created by increasing consumer knowledge. The utility of mobile phones, for instance, improves when a person understands what all the tasks they can do.