Paper 2 · utility
By saying a good has utility, it means
Ait is very useful.
Bit has power to satisfy a want.
Cit is not socially undesirable.
Dsomething has to be given up in order to possess it.
Explanation: Utility means a good has the power to satisfy a want — goods are meant to satisfy wants.
ZIMSEC Economics Paper 2, November 2010, Q8
