Question

what do you understand by the word utility?​

Answer 1

Explanation:

Utility is a term in economics that refers to the total satisfaction received from consuming a good or service . The economic utility of a good or service is important to understand, because it directly influences the demand, and therefore price, of that good or service.

Answer 2

Answer:

Utility is a term in economics that refers to the total satisfaction received from consuming a good or service. ... The economic utility of a good or service is important to understand, because it directly influences the demand, and therefore price, of that good or service.