utility


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utility,

in economics: see valuevalue,
in economics, worth of a commodity in terms of other commodities, or in terms of money (see price). Value depends on both desirability and scarcity. The marginal theory of value, pioneered in the late 19th cent.
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.

utility

(ECONOMICS) the satisfaction or pleasure that a person derives from the consumption of a good or service. In the work of CLASSICAL ECONOMISTS, it was assumed that utility might be measured on an absolute scale. In modern economics, the assumption is merely that individuals are at least able to rank the satisfactions they receive or expect to receive. It is on this basis that conceptions and forms of analysis central in modern economics, e.g. indifference curves, conceptions of marginal utility, are formulated (see NEOCLASSICAL ECONOMICS).

utility

[yü′til·əd·ē]
(engineering)
One of the nonprocess (support) facilities for a manufacturing plant; usually considered as facilities for steam, cooling water, deionized water, electric power, refrigeration, compressed and instrument air, and effluent treatment.

public utility

A public service such as water, gas, electricity, telephone, sewers, etc.

utility

1. 
a. a public service, such as the bus system; public utility
b. (as modifier): utility vehicle
2. Economics
a. the ability of a commodity to satisfy human wants
b. the amount of such satisfaction
3. Austral and NZ a small truck with an open body and low sides, often with a removable tarpaulin cover; pick-up
4. a piece of computer software designed for a routine task, such as examining or copying files

utility

(1) See utility program.

(2) Usefulness; fitness for a particular use. Utility is one of the six fundamental components of information security (see Parkerian Hexad). For example, if data are encrypted and the decryption key is unavailable, the breach of security is in the lack of utility of the data (they are still confidential, possessed, integral, authentic and available).
References in periodicals archive ?
Lots of companies would be thrilled with a workable utility computing scheme in their own IT departments.
As insurers search for ways to cut information technology budgets, many believe utility computing may be an answer.
They couldn't even read a meter," says van Brunt, who had the electricity to his Philadelphia row house shut off because his utility, PECO, didn't read the meter.
The amount of the liability the utility recognized would be the fair value of future decommissioning costs--the price the entity would have to pay a willing third party of comparable credit standing to assume the liability in a current transaction.
Finally, the State has expressed a willingness to provide a similar settlement for gross receipts tax liability which includes utility services, except that the state will not require any tax payment with respect to chilled water.
It seems clear from the facts developed so far in the state PUC investigation that the gas utility was pushed in opposing directions.
Seminars - Many utility companies sponsor seminars on foundry topics that are open to their customers.
We cannot achieve maximum competitiveness as long as we're captive to local utility monopolies," declared Busch man John Stein.
Yet for utility executives who have based their multi-billion-dollar construction programs on the inviolate truth of such a curve, doubting its validity is a bit like asking an archbishop to question the existence of God.

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