terms associated with utility analysis
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Utility analysis is a quantitative method that estimates the dollar value of benefits generated by an intervention based on the improvement it produces in worker productivity.
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The four types of economic utility are form, time, place, and possession, whereby utility refers to the usefulness or value that consumers experience from a product. Utility is the want-satisfying power of a commodity. It is the satisfaction, actual or expected, obtained from the consumption of a commodity. Characteristics of Utility are: Utility is psychological: It depends on the mental attitude and assessment of the person consuming the commodity and also his likes and dislikes.
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