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UTILITY meaning: 1. a service that is used by the public, such as an electricity or gas supply: 2. a company that…. Learn more.
Utility Definition – It is a measure of satisfaction an individual gets from the consumption of the commodities. In other words, it is a measurement of usefulness that a consumer obtains from any good. A utility is a measure of how much one enjoys a movie, favourite food, or other goods. It varies with the amount of desire.
Definition of utility adjective in Oxford Advanced Learner's Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.
UTILITY meaning: 1 : the quality or state of being useful; 2 : a service (such as a supply of electricity or water) that is provided to the public usually plural
Define utility. utility synonyms, utility pronunciation, utility translation, English dictionary definition of utility. n. pl. u·til·i·ties 1.
Introduction to utility. The concept of "utility" in economics essentially measures the usefulness or value of something. Economists attempt to quantify utility in various ways. Here, Sal Khan uses the example of scoops of ice cream to illustrate concepts like total utility and marginal utility. He also touches on how marginal utility tends to ...
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Definition of utility noun in Oxford Advanced American Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more.
