Question

Which example best illustrates the concept of utility?

Options

• Reading a book loudly in a library

• Using an umbrella when it is sunny

• An umbrella’s value increasing during the rainy season

• Buying extra shoes for walking on sand

Answer 1

An umbrella’s value increasing during the rainy season

Explanation:

Utility increases for certain goods in specific situations, like the higher usefulness of an umbrella during rain.