The usefulness of or satisfaction with a product i.e. the degree to which a good or service satisfies a consumer's wants or needs. The price consumers are prepared to pay for a good is taken to represent the financial value of utility.
The usefulness of or satisfaction with a product i.e. the degree to which a good or service satisfies a consumer's wants or needs. The price consumers are prepared to pay for a good is taken to represent the financial value of utility.