UTILITY AS PER ECONOMICS     

it is the power of a commodity to satisfy the wants of a human beings.

Ex: when we eat a chocolate it satisfies our want and provide us sweetnes.so here a chocolate has a power to satisfy the want of a human.

Further, utility can vary from person to person. considering the above said example ,there are some person who like sweet may derive a good amount of utility from chocolate. but a person who doesn’t like sweet mat not have a utility of chocolate.

There are some people who equate utility as usefulness but practically it is not true . there are some things which are usefulness  but don’t have any utility, conversely  there are also products which are utility but not useful to human man kind.

Ex: cigarette