Question

_____________A measurement of how much you like a product or service, ignoring the effects of price and its inconvenience. It comes from various attributes such as Performance & Fit.

Answer 1

Answer:

consumption utility

Explanation:

Consumption utility is a measurement of how much you like a product or service, ignoring the effects of price and its inconvenience. Consumption means using up of utilities. For example – when we take a glass of water to quench our thirst, we are said to consume water.  Whenever we make use of any commodity or service for the satisfaction of our wants, the act is called consumption.  Therefore, by consumption we mean the satisfaction of our wants by the use of commodities and services. Economic analysis of household behavior is based on the assumption that people seek the highest level of utility or satisfaction. Individuals are the only judge of their own utility. In general, greater consumption of a good brings higher total utility. However, the additional utility received from each unit of greater consumption tends to decline in a pattern of diminishing marginal utility.  The utility-maximizing choice on a consumption budget constraint can be found in several ways .