The concept of utility is fundamental to utilitarianism and describes the a. optimal distribution of wealth in society. b. level of satisfaction derived from a person's circumstances. c. method by which society chooses to allocate resources.

Answer: level of satisfaction derived from a person's circumstances.

Explanation:

The utility a consumer derives from a product/service is the measure of the level of satisfaction the consumer derive from the product/service chosen. Utility can also be defined as the level of usefulness of a product to an end user.