<!--td {border: 1px solid #ccc;}br {mso-data-placement:same-cell;}-->
Assertion (A): All goods and services satisfy our needs and wants.
Reason (R): The satisfying power of the commodity is known as its utility.
A
Both A and R are incorrect.
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
A is correct, but R is incorrect.
No worries! We‘ve got your back. Try BYJU‘S free classes today!
C
Both A and R are correct, but R is not the correct explanation for A.
No worries! We‘ve got your back. Try BYJU‘S free classes today!
D
Both A and R are correct, and R is the correct explanation of A.
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
Open in App
Solution
The correct option is D Both A and R are correct, and R is the correct explanation of A. Utility is the satisfaction derived from the consumption of a commodity. All goods and services are consumed to satisfy human wants.