Question : The utility will be:-
1:Differ from person to person.
2:Differ from time to time.
3:Differ from product to product.
Option 1: A only
Option 2: B only
Option 3: A and C only
Option 4: A, B and C all.

Question

Question : The utility will be:-
1:Differ from person to person.
2:Differ from time to time.
3:Differ from product to product.

Option 1: A only

Option 2: B only

Option 3: A and C only

Option 4: A, B and C all.

Team Careers360 · Accepted Answer

Correct Answer: A, B and C all.

Solution : The utility is a highly subjective concept. This means that it is relative and varies from person to person, location to location, and time to time. It is not standard, and each individual will derive a different level of satisfaction (utility) from the same good.
Hence D is the correct answer.

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Question : The utility will be:- 1:Differ from person to person. 2:Differ from time to time. 3:Differ from product to product.Option 1: A onlyOption 2: B only Option 3: A and C onlyOption 4: A, B and C all.

Related Questions

Question : Utility is a subjective concept:Option 1: Differs from person to personOption 2: Differs from time to timeOption 3: Differs from product to productOption 4: All of these

Question : Which of the statements below is correct? 1:Utility means desire-satisfying power. 2:The utility is not a function of desire intensity. 3:Consumption desire gives rise to utility.Option 1: A only Option 2: B onlyOption 3: A and C onlyOption 4: B and C only

Question : Which of the following statement is true? (a) Utility means want-satisfying power (b) Utility is a function of the intensity of desire (c) Desire of consumption gives birth to utilityOption 1: A and BOption 2: B OnlyOption 3: C OnlyOption 4: A, B, and C

Question : lingering challenges contain: A: Rural credit B: Rural Marketing C: Unemployment Option 1: Only A and COption 2: Only A and BOption 3: Only B and COption 4: All of the above

Question : Institutional sources of credit include A: Commercial bank B: Regional rural bank C: Money lendersOption 1: Only A and BOption 2: Only B and COption 3: Only COption 4: All of the above

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Question : The utility will be:-
1:Differ from person to person.
2:Differ from time to time.
3:Differ from product to product.
Option 1: A only
Option 2: B only
Option 3: A and C only
Option 4: A, B and C all.

Question : Utility is a subjective concept:
Option 1: Differs from person to person
Option 2: Differs from time to time
Option 3: Differs from product to product
Option 4: All of these

Question : Which of the statements below is correct?
1:Utility means desire-satisfying power.
2:The utility is not a function of desire intensity.
3:Consumption desire gives rise to utility.
Option 1: A only
Option 2: B only
Option 3: A and C only
Option 4: B and C only

Question : Which of the following statement is true?
(a) Utility means want-satisfying power
(b) Utility is a function of the intensity of desire
(c) Desire of consumption gives birth to utility
Option 1: A and B
Option 2: B Only
Option 3: C Only
Option 4: A, B, and C

Question : lingering challenges contain:
A: Rural credit
B: Rural Marketing
C: Unemployment

Option 1: Only A and C
Option 2: Only A and B
Option 3: Only B and C
Option 4: All of the above

Question : Institutional sources of credit include
A: Commercial bank
B: Regional rural bank
C: Money lenders
Option 1: Only A and B
Option 2: Only B and C
Option 3: Only C
Option 4: All of the above