Question

What is Economic Utility

Answer 1

Utility is a term in economics that refers to the total satisfaction received from consuming a good or service. ... The economic utility of a good or service is important to understand, because it directly influences the demand, and therefore price, of that good or service

Step-by-step explanation:

Answer 2

Answer: The capacity of a good or service to meet the demand of a consumer. The amount of economic utility of a good or service determines what the demand will be for that good or service, which impacts the price that people will be willing to pay to obtain it