Assertion: utility | /r/HasProperty | the satisfaction
Facets:
value: in economics
type: OTHER
Source sentences:
text: Thus, we can say that utility is the satisfaction that the consumer seeks to obtain from the consumption of goods and services, and while for a product, it is the ability to satisfy the wants of the consumers.
text: One can also refer to each point on the indifference curve as rendering the same level of utility (satisfaction) for the consumer.
text: In economics, utility is the satisfaction or benefit derived by consuming a product; thus the marginal utility of a good or service is the change in the utility from an increase in the consumption of that good or service.