economic utility

  

Definition

Ability of a good or service to satisfy one or more needs or wants of a consumer.

Use economic utility in a sentence

  • The economic utility of our good is excellent so we are confident it will generate demand by existing in the marketplace.

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  • You should try and make sure that any good you have has economic utility so that it is serving a strong purpose for you.

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  • While they had expanded exponentially since they had opened, the retail firm's continued success was grounded in their first product, a fact that was continually brought to the attention of the designers charged with keeping their primary line fresh and interesting to consumers by constantly reviewing it in the context of new trends and research, so that its economic utility would continue to keep it a viable and successful consumer hit.

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