Asked by Jean
what is meant by the term"utility" and how does the idea relate to purposeful behavior?
Answers
Answered by
economyst
Utility is relative measure of happiness/pleasure/satisfaction.
See http://en.wikipedia.org/wiki/Utility
If consuming good A gives a person more utility than good B, then that person would pay more for A than B.
See http://en.wikipedia.org/wiki/Utility
If consuming good A gives a person more utility than good B, then that person would pay more for A than B.
Answered by
osman
utility and how does the idea relate purposeful behavior
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