utility


Also found in: Dictionary, Thesaurus, Medical, Legal, Financial, Acronyms, Wikipedia.

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.
..... Click the link for more information.
.

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 ?
Even if the Federal Government is Not Legally Required to Accept State Jurisdiction Over the Utility Privatization Contractor, Should It Nevertheless Desire State Jurisdiction?
With Oracle, utilities have the power of data science and machine learning at their fingertips, in pre-packaged solutions designed specifically for utility needs.
Jojo Garcia, MMDA general manager, said that some of the utility companies already coordinated with the engineering department of the agency.
He added that if people have complaints regarding utility stores then they could lodge a complaint on the number imprinted outside the utility stores.
He said utility store was committed to fulfil its promise of providing essential commodities to the general public at inexpensive and subsidised rates.
African Utility Week is the flagship energy event organised by the multi-award winning Spintelligent, leading Cape Town-based trade exhibition and conference organiser, and part of Clarion Events Ltd, based in the UK.
Its main objective is to clarify the definition of public utility to open up the industry to competition, according to the committee report.
This is the first of several similar planned courses in other aspects of utility risk management such as utility coordination, utility relocation design, utility asset management and more.
We focus on the three major electric utility types: (1) investor-owned utilities (IOU), (2) municipal utilities, and (3) electric cooperatives.
HB 3832 provides that no public utility driver's license shall be issued unless the applicant has complied with the mandated 15 days of actual driving examination for public utility train, five days for bus drivers, five days for public utility jeeps and three days for tricycles that will show the actual safe driving habits of the utility bus, jeep or tricycle driver applicant.
Utilities, in many cases, are also incentivized and required by public utility commissions (PUCs) to drive efficiency into the marketplace and reduce power generation costs.
According to Utility Store sources, after the increase of flour in bazaars the govt has also hiked the prices of flour in utility stores.

Full browser ?