1] Utility of a commodity lies in the capacity of a commodity to satisfy a human wants 2] The consumer begins consumption of a particular commodity ie real consumption. (actual consumption ) eg water. 3] The commodity has only one…
1] Utility of a commodity lies in the capacity of a commodity to satisfy a human wants 2] The consumer begins consumption of a particular commodity ie real consumption. (actual consumption ) eg water. 3] The commodity has only one…