passwella.
Menu

JAMB Economics 1980 Question 12

Question 12

Theory of Consumer Behaviour

Utility of a commodity means

  1. A.its usefulness
  2. B.power to satisfy a want
  3. C.price of the commodity
  4. D.satisfaction derived from the production of commodity
  5. E.its adaptability.
Show the answer and explanation

Answer: B (power to satisfy a want)

Explanation

Utility is the want-satisfying power of a good or service.