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D/L Nomenclature

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Question

Give reasons or explain:
Utility has no ethical consideration.

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Solution

Utility has no ethical consideration as utility is relative in nature. It varies from place to plce, person to person, time to time. Utility refers to the want satisfying power of a commodity or service.

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Q. Give Reasons or Explain.
Utility is ethically neutral or concept of utility has no moral consideration.

Q. Give reason or explain:

1. Utility is a subjective concept.

2. Utility and happiness are different.

3. Utility is ethically neutral.

4. Utility is a psychological term.

Q. Give Reason or explain the following:
Characteristics of Utility Or Features of Utility .

Q. Give Reason or explain the following:
Assumptions of law of Equi-Marginal Utility.

Q. Give Reason or explain the following:
Assumptions of the law of Diminishing Marginal Utility.

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