State any two features of Utility.

Question

Accepted Answer

Utility, the want-satisfying power of a good, has several features. First, it is subjective — the same good gives different satisfaction to different people, or even to the same person at different times, because it depends on personal taste, mood and need. Second, it is ethically neutral — utility measures only want-satisfying power, not whether the want itself is good or bad; a packet of cigarettes has genuine utility for a smoker even though it is medically harmful, because Economics does not pass a moral judgement on the want being satisfied. Other valid features a student could equally cite include that utility is relative (varies by place and time) and that it is intangible (cannot be seen or physically measured); any two correctly explained features are sufficient for full marks.

✓Final answer

Any two of: utility is subjective (depends on the individual), relative (varies by person/place/time), ethically neutral (distinct from usefulness/morality), or intangible (cannot be physically measured).

Same / Similar Concept — real previous-year questions on the same or a closely similar concept, not this exact question.

CBSE 2026Set ANNUAL1 mark
$Q. Give an economic term: The capacity of a commodity to satisfy human wants.$
›Reveal solutionSolution

The capacity of a commodity to satisfy human wants = Utility.

Utility is the power or capacity of a good or service to satisfy a human want. It is the basic reason behind demand — a consumer buys a commodity because it yields utility.

Utility is subjective (differs from person to person), relative (changes with time and place), and is ethically neutral (even a harmful good like liquor has utility if it satisfies a want). It is not the same as usefulness.

✓Final answer
$Utility .$
CBSE 2026Set ANNUAL1 mark
$Q. Find the odd word: Types of utility: Place utility, Form utility, Time utility, Commodity utility$
›Reveal solutionSolution
Odd word = Commodity utility.

Utility can be created in several forms by changing a good's place, shape or availability over time:

Place utility — created by moving a good from where it is less useful to where it is more useful (transport).

Form utility — created by changing the shape or form of a good (converting cotton into cloth).

Time utility — created by storing a good and supplying it when needed (storing grain for the off-season).

Commodity utility is not a recognised type of utility, so it does not belong to this group.

✓Final answer
$Odd word: Commodity utility .$
CBSE 2024Set ANNUAL1 markMCQ
$Q. Blood bank is an example of ______. Place utility Knowledge utility Service utility Time utility$
(a) a, b, c
(b) b, c, d
(c) a, b, d
(d) only d
›Reveal solutionSolution
A blood bank preserves blood and makes it available at the moment of need, i.e. it creates usefulness across time — this is time utility. Correct option: only d.

Why: Utility means the want-satisfying power of a good or service, and it can be created in different forms:

Form utility — created by changing the shape/form of a material (wood into furniture).

Place utility — created by moving a good to where it is wanted (transport).

Time utility — created by storing a good in a period of plenty and supplying it when it is needed (cold storage, warehousing, and a blood bank storing blood for emergencies).

Service utility — created by rendering personal services (doctor, teacher).

Because a blood bank's whole purpose is to store blood so it is ready at the right time, it is a clear example of time utility.

✓Final answer
$only d — a blood bank is an example of time utility.$
CBSE 2024Set ANNUAL1 mark
$Q. Form utility : Furniture : : ______ : Doctor$
›Reveal solutionSolution
Completing the correlation: Form utility : Furniture :: Service utility : Doctor. Answer: Service utility.

Why: Utility (want-satisfying power) is created in different forms:

Form utility — created by changing the form/shape of a material, e.g. wood shaped into furniture.

Service utility — created by rendering a personal service rather than making a physical good, e.g. a doctor, teacher or lawyer serving a client.

Because a doctor creates usefulness through service, the matching term is service utility.

✓Final answer
$Service utility.$

> [!ANSWER]
> Any two of: utility is subjective (depends on the individual), relative (varies by person/place/time), ethically neutral (distinct from usefulness/morality), or intangible (cannot be physically measured).

Q.State any two features of Utility.

Concept understanding — Meaning and Features of Utility

Q.State any two features of Utility.

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