Economics used the term 'utility' to mean ____________ - SchoolNGR

Search SchoolNGR

Economics used the term 'utility' to mean ____________

Economics used the term 'utility' to mean ____________

SchoolNGR Classroom

Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE

A The value of a product before it has been advertised
B The satisfaction obtains from a good or service
C Total satisfaction gained when consuming a given number of units
D The contribution a good or service makes to social welfare.

Correct Answer: Option B

Explanation:
utility can be defined as the satisfaction which a consumer of a particular derived from the consumption of the good or service.

Prev Current Next

Study Subjects

Stay Updated

Follow us on: