The power in goods and services to satisfy human wants is called _____.

Satisfaction

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Utility

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Consumption

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Demand

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Solution

The correct option is A Utility

We have seen that goods satisfy human wants. This want-satisfying quality in a good is called Utility. Hence utility means the power to satisfy a human want

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Similar questions

Which of the following is/are used to produce goods and services which satisfy human wants?

Those goods which satisfy human wants directly are called :

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