utility and. usefulness is??
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"Usefulness" and "utility" both mean nearly the same thing. Usefulness: the quality or fact of being useful. Utility: the state of being useful, profitable, or beneficial.
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Utility: Its is one of the most important concepts in economics and it forms the basis for demand. It is the satisfaction derived from the consumption of a good, a consumer always tries to increase utility.
Usefulness: Is is used to describe if a resource is practical and cost effective in nature and if it can be used in productive activity.
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