Which of the following best describes the economic concept of utility?
A) Utility is the total number of units a consumer buys.
B) Utility measures the usefulness of goods, such as tools or food, and so goods such as artwork or attractive landscaping by definition has no utility.
C) Utility measures the satisfaction, or pleasure, that people receive from consuming a good or service.
D) None of the above are correct.

Question

​Which of the following best describes the economic concept of utility?
A) Utility is the total number of units a consumer buys.
B) Utility measures the usefulness of goods, such as tools or food, and so goods such as artwork or attractive landscaping by definition has no utility.
C) Utility measures the satisfaction, or pleasure, that people receive from consuming a good or service.
D) None of the above are correct.

Quizplus · Accepted Answer

The Answer is C

​Which of the Following Best Describes the Economic Concept of Utility

Which of the Following Best Describes the Economic Concept of Utility