Utility measures
A) the amount of satisfaction gained from the consumption of a good or service.
B) the market value of a product.
C) how easy it is to substitute one good for another.
D) the resource value of a good or service.

Question

Quizplus · Accepted Answer

Utility specifically refers to the satisfaction or benefit that consumers derive from consuming a good or service, rather than its market value, substitutability, or resource value.

Utility Measures