ECONOMICS
NOTES FOR
I.Com / FA / FSc / BA / BSc/ B.com / ADP /
BS / BBA / M BA / M.Com / ACCA
THEORY OF CUSTOMER BAHAVIOUR
Utility
The utility (U) is a representation of preferences nor some set
of goods and services. Preferences have a utility representation as
they are transitive, complete and continuous.
Definition:
Ability / power of a good or service to satisfy one or more needs or
wants of a consumer is called Utility.
Or
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