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utility analysis - Coggle Diagram
utility analysis
features
forms basis of demand
ethically neutral concept
also different from usefulness
the measurement of utility is hypothetical
utility is a subjective concept
relative concept
even different from pleasure
satisfaction and utility are different
utility is multi purpose
depends on intensity of want
types
place
service
time
knowledge
form
possession
concepts
total utility
aggregate utility derived by the consumer from all units of commodity consumed
marginal utility
the additional utility derived by the consumer on consumption of an additional unit
meaning
utility is the want satisfying power of a commodity