2007-02-01 11:14:52 · 2 answers · asked by ruadisneyfan 3 in Science & Mathematics ➔ Other - Science
The Wikipedia version is nice..but I need to know a more basic,broken-down easy to understand meaning,please.
2007-02-04 03:15:14 · update #1
Utility, in in economic terms, is the value of a good or service to an individual or society. It is a meaure of the satisfaction you get from using a product. If something has high utility, people will want more of it. The leads to an increased demand.
When utility is optimized, the increase in satisfaction does not occur with getting more of the product.
2007-02-08 15:03:58 · answer #1 · answered by Anonymous · 0⤊ 0⤋
http://en.wikipedia.org/wiki/Utility_theory
Plus,
http://en.wikipedia.org/wiki/Utility
http://www.google.gr/search?q=%22utility+theory%22&hl=el&start=0&sa=N
(I give you this link because I do not know what would help you)
2007-02-03 08:14:38 · answer #2 · answered by supersonic332003 7 · 0⤊ 0⤋