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mihalych1998 [28]
3 years ago
12

What concept is defined as the value, or satisfaction, that people derive from the goods and services they consume and the activ

ities they pursue?
Social Studies
1 answer:
gulaghasi [49]3 years ago
7 0

Answer:

This is the concept of Utility. It defines the satisfaction one person gets after consuming a particular amount of good or service. Itsvery useful and important concept of basics in Economics. It helps in decision making to get the optimum use of a particular good/service to get teh maximum satisfaction. As we know wants are unlimited and resources are limited, so using this concept things can improved and achieved.

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