How far you have to drive to the store to buy an item impacts the consumption utility you associate with it.
This statement is FALSE.
Common utilities include water, sewage, electricity, gas, garbage and recycling. Technology subscriptions such as cable TV, internet, security, and phone services can also be considered utilities. Home utility bills are similar to apartment utility bills, with one major exception. Who will pay the utility bills?
Utility in economics refers to the benefit or enjoyment a consumer obtains from a service or product. The concept of utility is abstract, but it helps explain how and why consumers make choices. "Ordinal" utility refers to the concept that one good is more useful or desirable than another.
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