Maharashtra State BoardHSC Arts 12th Board Exam
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Distinguish Between: Utility and Satisfaction - Economics

Distinguish Between

Distinguish between:

Utility and satisfaction

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Solution

Utility
Satisfaction
It is the want satisfying power of a commodity.
It is the feeling of happiness derived by the consumer.
Utility is derived or obtained by a person.
Satisfaction is experienced by the person.
It is the anticipated level of satisfaction.
It is actually realised by the consumer.
It is the starting point of consumption.
It is the end result of consumption.
Concept: Features of Utility
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Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 2 Consumer's Behavior
Exercise | Q 1.2 | Page 17
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