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The satisfaction or pleasure one derives from consuming a good or service is known as "utility." It reflects the value or benefit that an individual perceives from the consumption experience, influencing their choices and preferences. Higher utility often leads to increased consumer satisfaction, driving demand for specific products or services. Ultimately, this concept is central to understanding consumer behavior in economics.

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6d ago

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What do economists use to measure the personal satisfaction someone gets from consuming goods and services?

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


Utility is the measure of?

Utility is the measure of satisfaction or benefit that individuals derive from consuming a good or service. It quantifies the value or usefulness that a specific product or service provides to a consumer.


Personal satisfaction someone gets from consuming goods and services is what?

Personal satisfaction derived from consuming goods and services is known as "utility." It reflects the pleasure or benefit that individuals receive from their consumption choices, which can vary widely based on personal preferences, needs, and experiences. Higher utility often leads to greater overall happiness and fulfillment in life.


What term would describes the pleasure usefulness or satisfaction a person gets from using a product?

Utility


What are the key factors that can influence the way consumers perceiveproducts and services?

The main difference between the response of customers in service and product perception is that a customer percieves the product in his own way after purchasing a product at a particular price. When a customer purchases a service, the attitude of the customer is the function of Value, Quality and the satisfaction level of the customer. the value of the service is determined vis a vis the price he is going to pay for a particular service. when a customer testifies the quality of a service either by his own past expeerience or by the communication of the service provider. after the consumption of the service the customer measures the satisfaction level he gets from consuming the service. thus the customer perception regarding a service is framed by:- 1. the value of the service. 2. the qulity of the service. 3. the satisfaction level from the service. since the optimum level of the Value, Quality, Satisfaction from a service is always acceptable to the customer. the weightage of all these factors should be maximum. value of the service is related to the price but sometimes the image of the service provider(Quality) excels the price hike and a customer is ready to pay the increased price.


Why does jack get so much pleasure from killing the pig?

Jack gets so much pleasure from killing the pig because the he gets to eat it.


What is the term for someone who gets pleasure from giving pleasure?

A Hedonist. http://en.wikipedia.org/wiki/Hedonism


What is the degree of overall satisfaction a person gets from life called?

Quality of life is the degree of overall satisfaction.:)


Is utility measurable?

the satisfaction a person gets from consumption


How is utility measured?

the satisfaction a person gets from consumption


What is the Hebrew word for one who takes satisfaction from the suffering others?

Schadenfreude is a German loan word used to describe pleasure derived from the misfortunes of others. English translations include gloating, spitefulness, malicious joy


What are the Advantages of submissive behavior?

DJ gets to pleasure you for free