Define Or Explain the Following Concept: Knowledge Utility - Economics

Short Note

Define or explain the following concept:

Knowledge utility

Solution

Knowledge utility is the utility derived from acquiring knowledge about a particular product. For instance, the utility derived from a mobile increases, if the consumer has complete knowledge about its functions.

Concept: Types of Utility

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Chapter 2: Consumer's Behavior - Exercise [Page 16]

Q 1.2 Q 1.1 Q 1.3

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Micheal Vaz Economics HSC 12th Standard Maharashtra State Board

Chapter 2 Consumer's Behavior
Exercise | Q 1.2 | Page 16

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Types of Utility

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Define Or Explain the Following Concept: Knowledge Utility - Economics

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