In economics, ______ of a good is its expected capacity to satisfy a human want.

usefulness

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ability

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capacity

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utility

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Solution

The correct option is C utility
In economics, utility refers to the power of satisfying the wants. A utility of good is measured by calculating the amount of satisfaction derived by the consumer by consuming that particular good.

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Under this method, a particular asset is expected to generate equal utility (economic benefits) during its useful life. Which method is this?

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