Question : Which of the statements below is correct? 1:Utility means desire-satisfying power. 2:The utility is not a function of desire intensity. 3:Consumption desire gives rise to utility.
Option 1: A only
Option 2: B only
Option 3: A and C only
Option 4: B and C only
Correct Answer: A and C only
Solution : A commodity's utility is its ability to satisfy desires. It is the actual or anticipated satisfaction obtained from the consumption of a commodity. It is a good ability to satisfy a desire. The utility has no moral implications: it satisfies any desire, moral or immoral, right or wrong. Hence option c is the correct answer.
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