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Question
______ is the power of commodity to fulfill human wants.
Options
utility
usefulness
productivity
unproductivity
MCQ
Fill in the Blanks
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Solution
Utility is the power of a commodity to fulfill human wants.
Explanation:
Utility means the satisfaction or want-satisfying power of a commodity. In economics, when we say a good has utility, we mean it can fulfill a human need or desire.
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