To an economist, utility is
A) identical to profit.
B) a measurement of consumer satisfaction.
C) measured in kilowatt hours.
D) the usefulness of a product.

Question

Quizplus · Accepted Answer

Utility, in economics, refers to the satisfaction or pleasure that consumers derive from consuming goods or services. It is a way to measure how much benefit consumers get from certain goods or services, rather than being a physical measurement or directly related to the product's inherent usefulness or profit generated from it.

To an Economist, Utility Is