Utility meaning: Utility is the quality or condition of

Utility is the quality or condition of being useful, or a useful article, device, or service. It can also refer to the benefit or satisfaction that a commodity or action provides, or a public service such as electricity, water, or transportation. Learn the meaning of utility as a noun and an adjective in English, with different contexts and usage. Find out how utility can refer to a public service, a usefulness, a versatile player, or a computer program. Utility : What is meant by Utility ? Learn about Utility in detail, including its explanation, and significance in Economy on The Economic Times. Utility Theory The utility definition in economics relates to the concept of usefulness. An economic good yields utility to the extent to which it's useful for satisfying a consumer’s want or need.