Changes

*as a provider of electricity, gas or telephone service

*as a provider of electricity, gas or telephone service

Utility is an economic term representing the someone's satisfaction or happiness.  The utility of a [[good]], for example, is its ability to bring satisfaction to the buyer.

Utility is an economic term representing someone's satisfaction or happiness.  The utility of a [[good]], for example, is its ability to bring satisfaction to the buyer.

Utility functions are mathematical ways of representing the benefits accruing to a consumer from his consumption of various goods. A utility function, in conjunction with a budget constraint, may be used to determine a consumer's optimal bundle of goods.

Utility functions are mathematical ways of representing the benefits accruing to a consumer from his consumption of various goods. A utility function, in conjunction with a budget constraint, may be used to determine a consumer's optimal bundle of goods.

The term utility has its origins in the philosophical movement of [[utilitarianism]].

The term utility has its origins in [[utilitarianism]], a philosophical school of thought in ethics.

[[Category:Economics]]

[[Category:Economics]]

[[Category:Philosophy]]

[[Category:Philosophy]]