1.

Distinguish between Utility and satisfaction.

Answer»
UtilitySatisfaction
1. Utility is a want satisfying capacity possessed by a commodity.(a) Satisfaction is actual realisation from consumption of a commodity.
2. It is what the commodity possesses.(b) It is what the commodity gives.
3. It is a means.(c) It is an end.
4. It is expected satisfaction before consumption.(d) It is actual realisation which comes after consumption.


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