Question

Remember the definition of utility in economics (total satisfaction received from consuming a good or service). Name something you have purchased in the past year. Use as much detail as possible to describe how this good or service increased your utility. Use complete sentences and appropriate economic terms and concepts learned in this course to support your position.

Answer 1

The one thing that I purchase in the past year is the HP laptop. Buying this laptop raised my utility in diverse ways. It has a very high internet connection speed and helps to browse faster than using my I phone. I can also have a video conference with family and friends, which sometimes was difficult with my phone. I have been saving money by not buying two other models that I always wanted. Therefore this increased my spending utility to a more significant percentage.