Business Studies, asked by jess2005, 10 months ago

what do you mean by utility with reference to production​

Answers

Answered by BrainlyEmpire
49

Answer:

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Explanation:

Meaning and Concept of Utility. Utility Definition – It is a measure of satisfaction an individual gets from the consumption of the commodities. In other words, it is a measurement of usefulness that a consumer obtains from any good. A utility is a measure of how much one enjoys a movie, favourite food, or other goods.

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Answered by audrina2107
2

Answer:

Utility:

Wants satisfying capacity of goods and services

or

It is the capacity of the good or services to satisfy the consumer

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