Social Sciences, asked by 17sw010158, 5 months ago

what do you mean by utilty and value????? in geography​

Answers

Answered by tanyalelith01
1

Answer:

Utility is a term in economics that refers to the total satisfaction received from consuming a good or service. Economic theories based on rational choice usually assume that consumers will strive to maximize their utility. ... In practice, a consumer's utility is impossible to measure and quantify.

Answered by anshumanironman
1

Answer:

Utility and value, in economics, the determination of the prices of goods and services.

A customer is the one who normally determines his demand for goods on the basis of satisfaction (utility) that he procures from it. So, what is a utility?

The utility of goods is its want-satisfying capability. The more the stronger the aspiration to have it, the more is the utility procured from the goods. The utility is instinctive. Distinct people can get different degrees of utility from the same goods

mate utility and value are a key points in economics

but in geography it's related to the goods how they're utilised ( used) and the amount of value (work ,money,etc) are obtained from it

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