Professional Documents
Culture Documents
Presentation UTILITY 2
Presentation UTILITY 2
NAME
Muhammad Kamran Khan
GROUP
B-BBA
CONTANTS
• Definition of utility.
• Approaches.
• Types of utility.
• Conclusion.
DEFINITION
Utility is an economic term which states
the want satisfying power of a goods and
services.
Cardinal approach
Cardinal Utility is the utility where the
satisfaction derived by consuming a
product can be expressed numerically.
APPROACHES Traditional and Neo Classical
Economist
Ordinal approach
Ordinal Utility is the utility where the
satisfaction derived by consuming a
product cannot be expressed
numerically
.Modern Economist
1. Form 2. Place
utility utility
7.
Natural Types of 3. Time
utility Utility utility
6. 4. Service
Knowledge 5. utility
utility Possession
utility
Form Utility
Form Utility Definition Form utility is defined as a
process that increases the value of a product to the
consumer by making changes and altering its
physical appearance.
Example
2. PLACE UTILITY