Question

Want satisfying capacity of a commodity

• A. Demand
• B. Supply
• C. Production
• D. Utility

Hint:

Utility is a key concept in economics, representing the satisfaction or pleasure derived from consuming goods or services.

Answer 1

The Correct Option is D

Step 1: Understanding satisfaction in economics.
The satisfying capacity of a commodity refers to how well it meets the needs or desires of consumers. This is primarily related to the utility a commodity provides.
Step 2: Explanation of options.

• (A) Demand: Incorrect. Demand refers to the quantity of a commodity that consumers are willing and able to purchase at various prices, but it does not directly relate to the satisfaction or utility provided.
• (B) Supply: Incorrect. Supply refers to the quantity of a commodity that producers are willing and able to produce and sell, not to the satisfaction or utility of consumers.
• (C) Production: Incorrect. Production refers to the process of creating goods and services, but it does not directly refer to the satisfaction or utility derived from those goods.
• (D) Utility: Correct. Utility refers to the satisfaction or pleasure derived from consuming a commodity, which represents its satisfying capacity.

Step 3: Conclusion.
The correct answer is (D) Utility, as it is directly related to the satisfaction a commodity provides to consumers. Final Answer: Utility.