Following are characteristics of utility which discussed below: 1. Utility Is Not Related With Usefulness or Welfare 2. Utility is Measurable 3. Utility is a Relative Term 4. Utility is Subjective 5. Utility Depends on the Intensity of Want 6. Utility is Concerned with Consumer Goods Only 7. No Physical Shape 8. Utility Does Not Depend on Actual Consumption 9. Rationality of the Consumer.