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Utility

Home » Utility

Utility

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(1) The quality of a property or service that enables it to satisfy human wants. (2) The satisfaction obtained from the goods and services that a consumer consumes.

Related Articles:
  • Glossary: Cost Approach
  • Glossary: Economic (External) Obsolescence
  • Glossary: Effective Age
  • Glossary: Hedonic Regression
  • Glossary: Principle of Substitution
Related Terms:
  • Term: Property
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Value in Exchange
Time-Adjusted Sale Price
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