what are utilities? give an example
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The goods satisfy human wants. This want satisfying quality in a good is called Utility. Utility is that quality in a commodity by virtue of which it is capable of satisfying a human want. Air, water (free goods) and food, cloth etc. (economic goods) satisfies people’s wants and hence they possess utility.
Srajmehta:
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board game for two players with each beginning with sixteen chess pieces moving according to fixed rules across a chessboard with the objective to checkmate the opposing king.
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