An item has utility for a consumer if it
A)is scarce.
B)has a high price.
C)is something everyone else wants.
D)generates enjoyment or satisfaction.

Question

Quizplus · Accepted Answer

Utility is the satisfaction or enjoyment a consumer derives from consuming a good or service. A product's utility is not determined by its scarcity, high price, or popularity among others, but by the satisfaction it brings to the consumer. Therefore, option D is the correct choice as it aligns with this definition.

An Item Has Utility for a Consumer If It