Maharashtra BoardEnglish MediumSTD 12 Commerce / ArtsEconomicsUtility Analysis4 Marks
Question
Utility and happiness are different.
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Answer
Yes, I agree with this statement.
Utility is want satisfying capacity of a commodity and happiness is an enjoyable experience.
When a commodity has utility it may not necessarily give happiness or pleasure or enjoyable experience to consumer. E.g., no one enjoys taking an injection or bitter medicine but they have utility to a patient.
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