Question

What is creation of utility? ​

Answer 1

Answer:

Creation 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.

Answer 2

The creation of utility is:  

• A measure of the satisfaction a person receives in the use of goods.
• In other words, the level of usability that the consumer gets from any good.
• Help is a measure of how much one enjoys a movie, favourite food, or other goods.

Resource Development:

• An important aspect of a business is the construction of resources is good for consumers to use.

• When raw material is converted into finished material, it creates a form resource.
• If it is stored and brought to market where it is needed, then a time resource is built.