________ refers to want satisfying power of a commodity. (Usefulness / Utility / Satisfaction/Happiness). Fill in the blank with appropriate alternative given in the bracket.
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Utility refers to want satisfying power of a commodity.
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Answer:
Utility
Explanation:
Utility refers to want satisfying power of a commodity.
A commodity's desire satisfying energy is called utility. To fulfill human desires, it is a quality possessed by a commodity or service. Utility can also be described as a commodity's value in use, because the satisfaction we obtain from a commodity's consumption is its value in use. There are four types of utility that help to create customer satisfaction namely the form, place, time and the possession.
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