Question

Is the following statement true or false?

Air does not possess utility.

Answer 1

This statement is false.

Explanation:

• Air does possess utility because it satisfies human wants and is essential for life.
• However, air is generally considered a free good, meaning it is abundant and available without a price.
• Even though free goods do not command a price, they still have utility.
• From the material, the hint explicitly indicates that the statement “Air does not possess utility” is false, confirming that air does possess utility.