Utility

Utility is the measure of satisfaction one recieves from certain goods and or services. There are two kinds of utility, increasing utility and decreasing utility. People do things because in return they get utility. Typically people do specific things to gain more utility. Utility is different for every person. For some, the desire of more money may in fact make them happier. Being married and having a child may bring more satisfaction to others. Overall we see that total satisfaction and complete utility is impossible because we dont have the resources to do so. The concept of decreasing marginal utility is when you eat, let's say 20 chocolate bars. The first and second bar will be much better than the 20th.
 * Utility:**

Below shows someone's total happiness they recieve from eating chocolate bars.



Example Problem: Is money a type of Utility?

media type="youtube" key="zlIp4J5_WGQ" width="425" height="350" Additional Websites: 1. http://www.investopedia.com/university/economics/economics5.asp 2. http://www.economist.com/research/Economics/alphabetic.cfm?term=utility 3. http://www.citizeneconomists.com/view_articles_detail.php?aid=123

Answer to example problem: No