Question

Which feature of utility explains why woollen clothes are more valued in winter compared to summer?

Options

• Utility is always constant

• Utility depends on pleasure

• Utility is a relative concept changing with time and place

• Utility cannot be measured

Answer 1

Utility is a relative concept changing with time and place

Explanation:

The usefulness of certain goods, like woollens, increases during winter because utility changes based on circumstances such as time and place.