Advertisements
Advertisements
Question
State whether the following statements are TRUE or FALSE :
Utility is subjective.
Advertisements
Solution
True, utility is subjective.
Explanation:
Utility is said to be a subjective concept as it differs from person to person. That is, the satisfaction derived from a product will be different for each person due to differences in tastes and preferences.
shaalaa.com
Is there an error in this question or solution?
