Economics · Theory of Consumer Behaviour
The term 'Utility' in economic terms, relevant to consumption and demand, is best described as:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
Share:
- 1The total quantity of goods produced in a given time period.
- 2The want-satisfying power of a commodity.✓
- 3The inherent physical weight or volume of a commodity.
- 4The total market price paid for a good or service.
Correct answer
The want-satisfying power of a commodity.
Download Single Question PDF
Save this question and verified answer as a clean study sheet with live clickable link.
👥
Share with Friends & Study Groups
Challenge your peer aspirants on WhatsApp or Telegram to solve this question!
Online Test Series
Start Free Mock Test →Preparing for Economics?
Practice full-length mock tests with real exam timers, instant score analysis, and all-India ranking.
Chapter Practice
Practice Theory of Consumer Behaviour MCQs →Want more practice questions on Theory of Consumer Behaviour?
Solve complete topic-wise tests with detailed solutions on GkGet.
Related Practice Questions
Recommended practice questions in Economics · Theory of Consumer Behaviour