What Is Meant by the Term Utility

question 112

Multiple Choice

What is meant by the term utility?

• A)A measure of a product's usefulness.
• B)A measure of necessity.
• C)The satisfaction or pleasure derived from the consumption of a product.
• D)The benefit derived from the production of a product.

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Definitions:

Sustainable Products

Products designed and produced with consideration for their environmental impact, aiming for minimal harm and use of resources.

Ethical Decision-making Approaches

Methods or frameworks used to evaluate and choose among alternatives in a manner consistent with ethical principles.

Codes of Ethics

A set of principles and standards designed to guide the behavior and decision-making of members within a profession or organization.

Traditional Entrepreneurs

Individuals who establish and manage businesses for the principal purpose of profit and growth, typically following conventional business models.