Fill in the blank with appropriate alternatives given below : _________________ refers to want satisfying power of a commodity.

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KollegeApply · Accepted Answer

Utility refers to want satisfying power of a commodity. Explanation: Utility is the satisfaction that a consumer expects to derive from the consumption of a particular unit of a good. It is expressed in subjective terms as ‘utils’. For example, we can say that utility derived from one cold drink is 4 utils.

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