Question

Difine the term utility ​

Answer 1

Utility is a term used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good. Utility may measure how much one enjoys a movie, or the sense of security one gets from buying a deadbolt. The utility of any object or circumstance can be considered.

Answer 2

Answer:

utility refers to the perceived value (i.e. usefulness) an individual receives when they purchase a good or service.