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प्रश्न
State the following statement is True or False:
Utility is the basis of demand.
पर्याय
True
False
MCQ
चूक किंवा बरोबर
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उत्तर
Utility is the basis of demand. -True
Explanation: The above statement is true. Demand for a commodity is based on the utility derived from it. A person will demand a commodity only if it gives him/her some satisfaction or utility, otherwise, it will not be demanded. Therefore, we can say that utility forms the basis of demand for a commodity.
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