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You are here: Home / Potpourri / Economics 101: Utility

Economics 101: Utility

Economics 101: Utility

[This is part of the series: The Complete Guide To Economics 101.]

In economics, what is referred to as utility?

Utility is a (as good as we can possibly do) measure of satisfaction or happiness.

This is nothing other than economist trying to quantify something that is really hard to quantify.

I mean how do you quantify happiness, satisfaction, comfort, or discomfort?

You do your best.

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Filed Under: PotpourriTagged With: #Economics101

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