Power to satisfy a want
Usefulness
Willingness of a person
Harmfulness
Answer is Right!
Answer is Wrong!
The correct answer is: A. Power to satisfy a want.
Utility is the ability of something to satisfy a want or need. It is a measure of how useful or valuable something is. In economics, utility is often used to measure the satisfaction that people get from consuming goods and services.
The other options are incorrect because:
- Usefulness is not the same as utility. Usefulness is a general term that refers to the ability of something to be used for a particular purpose. Utility, on the other hand, is a more specific term that refers to the ability of something to satisfy a want or need.
- Willingness is not the same as utility. Willingness is a measure of how much someone is willing to pay for something. Utility, on the other hand, is a measure of how much satisfaction someone gets from consuming something.
- Harmfulness is not the same as utility. Harmfulness is a measure of how much damage something can do. Utility, on the other hand, is a measure of how much satisfaction something can provide.