Question

What is the economic definition of​ utility?

Answer 1

Economic utility is the amount of satisfaction a consumer receives from the consumption of a particular product or service.

Step-by-step explanation:

Answer 2

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