The want-satisfying power of a good or service is called ________________________.

Question

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The want-satisfying power of a good or service is called utility. Utility is the ability of a product or service to satisfy a consumer's wants and needs. The conversion process refers to the steps involved in the transformation of raw materials into finished products. Authority refers to the power or right to make decisions or take action, while information sharing refers to the sharing of knowledge or data between individuals or groups.

The Want-Satisfying Power of a Good or Service Is Called