A product has utility if it:
A)takes more and more resources to produce successive units of it
B)can be produced in unlimited quantities
C)satisfies consumer wants
D)is useful
E)is available in only limited quantities

Question

Quizplus · Accepted Answer

Utility refers to the satisfaction or usefulness a product or service provides to consumers. Therefore, the option that describes satisfaction of consumer wants is the correct choice. The other options do not necessarily define utility.

A Product Has Utility If It