Question

What do you understand by the term ‘utility’ and ‘value’?

Answer 1

Answer:

Utility : It is a term in economics that refers to the total satisfaction received from consuming a good or service.

Value : It is a measure of the benefit from a good or service to an economic agent.

Answer 2

Utility refers to a things effect on the physical world , value refers to a things effect on a persons mind .

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MARk brainaliest ❤️