What is utility? explain it
Answers
Answer:
Meaning and Concept 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.
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Answer:
utility
/juːˈtɪlɪti/
noun
noun: utility; noun: public utility; plural noun: public utilities
1.
the state of being useful, profitable, or beneficial.
"he had a poor opinion of the utility of book learning"
Similar:
usefulness
use
advantage
benefit
value
help
helpfulness
profitability
convenience
practicality
effectiveness
efficacy
avail
service
serviceableness
advantageousness
feasibility
viability
workability
practicability
possibility
mileage
(in game theory or economics) a measure of that which is sought to be maximized in any situation involving a choice.
2.
an organization supplying the community with electricity, gas, water, or sewerage.
US
stocks and bonds in public utilities.
plural noun: utilities
3.
COMPUTING
a utility program.
"a handy utility for converting one graphics file type to another"
4.
AUSTRALIAN/NZ
a utility vehicle.
adjective
adjective: utility
1.
useful, especially through being able to perform several functions.
"a utility truck"
denoting a player capable of playing in several different positions in a sport.
"a utility player"
2.
functional rather than attractive.
"utility clothing"
Origin

late Middle English: from Old French utilite, from Latin utilitas, from utilis ‘useful’.
Explanation: