Question

What do you understand by the terms-utility and value?

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Answer 1

$</p><p> </p><p> <div style="</p><p> padding:50px 5px;</p><p> text-align: center;</p><p> font-family:Monoscape;</p><p> background-image: linear-gradient(45deg , rgba(255,255,255,.7 ) 50%, transparent 50%), radial-gradient(circle at center center, rgba(108, 78, 11,0.1) 0%, rgba(108, 78, 11,0.1) 58%,transparent 58%, transparent 81%,rgba(144, 96, 58,0.1) 81%, rgba(144, 96, 58,0.1) 100%),linear-gradient(90deg, hsl(68,81%,84%),hsl(68,81%,84%)); background-size: 22px 22px;</p><p> "></p><p> </p><p> <span style="text-align: center; border-bottom:2px double #460eff; color: #460effff; ">Solution To Your Question &#x2193;</span> </p><p> </p><p> <p style="color: black;</p><p> text-shadow:0px 0px 10px rgb(215,240,204);</p><p> text-align: center;</p><p> font-weight: 500; "></p><p> </p><p> </p><p>Utility is the economic term for satisfaction. ... The more utility an item has, the more value human beings are willing to assign to it. In this way, utility can be synonymous with subjective human value.</p><p> </p><p> &#128513; Hope You Liked It &#128513;</p><p> </p></p><p> </p><p> </p><p> <marquee style="color:#000;"> <b>Mark Me as the brainliest and Follow Me &#128151;</p><p> </p><p> </b></marquee></p><p> </p><p> </p><p> </p><p> </div></p><p> </p><p> </p><p>$

Answer 2

Answer:

Utility refers to a thing's effect on the physical world, while value refers to a thing's effect on a person's mind. ... So in that example the money has no utility, only value. Utility is objective and value is subjective.