Which of the following is the satisfaction received from owning or consuming a product or service?

Question

Quizplus · Accepted Answer

Utility is the satisfaction or benefit that consumers receive from consuming a product or service. It is the fundamental concept in economics that drives consumer behavior and demand for goods and services. Utility can be measured in terms of the usefulness, pleasure, or value that a consumer derives from a product. Therefore, utility is the correct choice for the satisfaction received from owning or consuming a product or service.

Which of the Following Is the Satisfaction Received from Owning