Multiple choice general knowledge

In Economics the terms "Utility" and "Usefulness" have

  1. same meaning

  2. opposite meaning

  3. different meaning

  4. None of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

In economics, utility specifically refers to the satisfaction or benefit a consumer derives from consuming goods and services, measured in utils. Usefulness is a broader concept about whether something serves a practical purpose. While related, utility is a technical economic term focused on consumer satisfaction, not general usefulness.

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