Multiple Choice Questions on Utility is more closely related to the term ........ for SEBI Grade A ( Officer) Exam Preparation

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Multiple Choice Questions

Utility is more closely related to the term ........

Economics- Phase (I & II) Demand and Supply , Market Structures
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    Utility is more closely related to the term

    Useful

    Incorrect Answer

    Useless

    Incorrect Answer

    Necessary

    Incorrect Answer

    Satisfaction

    Correct Answer
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    Explanation:

    Utility is more closely related to the term Satisfaction. The term was introduced initially as a measure of pleasure or satisfaction within the theory of utilitarianism by moral philosophers such as Jeremy Bentham and John Stuart Mill

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