The capacity of a good or service to meet the demand of a consumer. The amount of economic utility of a good or service determines what the demand will be for that good or service, which impacts the price that people will be willing to pay to obtain it.
Related information about economic utility:
- Utility - Wikipedia, the free encyclopedia
In economics, utility is a representation of preferences over some set of goods and services. Preferences have a utility representation so long as they are ...
- What is economic utility? - BusinessDictionary.com
Definition of economic utility: Ability of a good or service to satisfy one or more needs or wants of a consumer.
- What is economic utility? definition and meaning - InvestorWords.com
Definition of economic utility: The capacity of a good or service to meet the demand of a consumer. The amount of economic utility of a good or service ...
- Economic utility refers to what
economic utility; refers to the level of economic relevance,significance or usefulness of a given type and degree of consumption and production towards a given ...
- What Is an Economic Utility?
An economic utility is the satisfaction that a consumer receives by deciding to purchase a particular good or service from a specific manufacturer or supplier.
- THE ECONOMIC UTILITY OF WEATHER FORECASTS
The economic factors involved in the use of weather forecasts are discussed, and procedures for analyzing the economic utility of both probability and ...
- economic utility of child. in indi
actually focused on the economic utility of children in developing countries,* ... e J. • ^assoff, 'Labour demand and economic utility of children: a case study in ...
- Introduction to Utility Maximization
This concept of economic utility has some specific properties that are important to keep in mind: sign matters: positive utility numbers (i.e. numbers greater than ...