The value that consumers get (from consuming a product) over and above what they actually paid for the product is called

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Business

15 September, 22:34

The value that consumers get (from consuming a product) over and above what they actually paid for the product is called

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Answers (1)

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Adalyn · Answer 1

Answer: Consumer utility

Explanation:

The consumer utility is basically refers to the consumer demand theory which basically analyzing the different types of behavior of the consumers based on the actual requirement of the users.

According to the given question, the consumer utility is basically refers to the value that the consumer are actually paid for the goods and the services in the market.

The consumer utility is one of the method where we can analyzes the satisfaction of the customers according to their actual preferences.

Therefore, Consumer utility is the correct answer.