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Utility Analysis — Economics STD 12 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 12 Commerce / ArtsEconomicsUtility Analysis2 Marks
Question
Utility and satisfaction.
✓

Answer

UtilitySatisfaction
1. Utility is a want satisfying capacity possessed by a commodity.(a) Satisfaction is actual realisation from consumption of a commodity.
2. It is what the commodity possesses.(b) It is what the commodity gives.
3. It is a means.(c) It is an end.
4. It is expected satisfaction before consumption.(d) It is actual realisation which comes after consumption.

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