Give reason or explain: 2. Utility and happiness are different.

Give reason or explain:
2. Utility and happiness are different.
ANSWER:
2) Utility and happiness are two different concepts. On one hand, utility is the want satisfying capacity of a commodity. On the other hand, happiness is a state of mind. It is an expression of the feeling of satisfaction. Moreover, utility is the anticipated level of satisfaction while happiness is actually realised by the consumer.

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