Question

what is utility?❤❤...​

Answer 1

Within economics, the concept of utility is used to model worth or value. Its usage has evolved significantly over time. The term was introduced initially as a measure of pleasure or happiness within the theory of utilitarianism by moral philosophers such as Jeremy Bentham and John Stuart Mill.

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Answer 2

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What is Utility?

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.

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