By utility we mean________

  • A Uselessness
  • B Power of satisfying a want
  • C Beneficial
  • D Consumable

The correct answer is B. Power of satisfying a want

Utility refers to the satisfaction or benefit that a consumer receives when they consume a good or service.

It is a measure of the happiness or satisfaction gained from a particular action.

So, utility is essentially the power of a good or service to satisfy a want or need.

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