Utility is all around us. You use it every day. But what is Utility? Its usefulness in a good or service. (goods are things you can use your 5 senses to detect, services can't be detected that way) There are different types of utility, whch you will learn in the next few steps.
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Step 1: Possession Utility
This is simply possessing, or having, a product. my favorite example of this is: how useful is a car if it's still in the lot?