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 ?
. Diarrhoea: Drink extract of fresh Durva grass is useful in controlling diarrhoea
The survey revealed that slightly more men than women agreed that making payments through mobile money agents is a useful innovation.
“After two years of bootstrapping to build a bullet-proof, market-ready product and turning beta customers into paying customers, we're excited to bring on investors to help accelerate our growth,” said Jay Crain, Co-Founder & CEO, Useful.
TOP 10 BABY PRODUCTS 1) Stair gates came out top as the most useful baby product, with 69 per cent of people who own one saying how vital it was.
This section is a useful exposition of the indicator approach to identifying growth and business cycles and its application to a particular industry.
Trade shows ranked third, with 67% saying they are very useful, up from 56% in 2004.
Alan Hall, director for EEF Northern, said: "We are delighted that manufacturers have once again recognised EEF as their most useful service provider."
However, Pothier notes that once the scientists perfect their technique, it might be possible to introduce a variety of useful proteins that would improve eggs' food value.
One of the book's key lessons--and one that is useful for anyone thrown into a crisis situation but especially for HR professionals who may not be used to being part of a core crisis team--is the need to demonstrate leadership: "You need to recognize and remember you are in the best position to deal with the complex, unfolding human side of these events, both short- and long-term."
As under the current regulations, costs incurred to acquire or produce real or tangible personal property having a useful life substantially beyond the end of the taxable year must be capitalized.
This is a useful collection of 100 speeches that provide a chronological/topical history of America and highlight some controversial issues in that history.