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Utility because it's a term in economics that refers to the total satisfaction received from consuming a good or service.

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Xio Gonz

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4y ago

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Related Questions

What concept do economists use to measure the satisfaction a person gets from the use or consumption of goods and services?

The concept of utility is a measure of consumer satisfaction.


WHAT Economists Use The Concept Of To Measure The Satisfaction A Person Gets From The Use Or Consumption Of Goods And Services.?

The concept of utility is a measure of consumer satisfaction.


Economists use the concept of what to measure the satisfaction a person gets from the use or consumption of a good and services?

Utility


Utility is the concept that economists use to measure the a person gets from the use or consumption of goods and services.?

satisfaction


What Utility is the concept that economists use to measure the a person gets from the use or consumption of good and services?

Satisfaction


Which of the following is uded by economists to measure the satisfaction a person gets from the use or consumption of goods and services?

The concept of utility.


What is the difference between utility and satisfaction?

"Total utility is the aggregate sum of satisfaction or benefit that an individual gains from consuming a given amount of goods or services in an economy." Check out the related link to learn more about utility and satisfaction.


Measurement of personal satisfaction of wants and needs gained from the use or consumption of goods and services.?

Its a Utility ~


What measurement of personal satisfaction of want and needs gained from the use or consumption of goods and services?

Its a Utility ~


Introduction: How would you rate your overall satisfaction with our services"?

Please rate your satisfaction with our services.


What economists talk about utility what does it refer to?

economic utility; refers to the level of economic relevance,significance or usefulness of a given type and degree of consumption and production towards a given economic end. An economic end can be: 1-profit maximization 2-well fare maximization etc economic utility can be increasing,decreasing or constant depending on its economic utility reaction.


Is utility comparable across individuals?

Utility, or the satisfaction or benefit gained from consuming a good or service, is not directly comparable across individuals. This is because people have different preferences, needs, and circumstances that influence how they value and derive satisfaction from goods and services. Utility is subjective and varies from person to person.