Utility Meaning
Utility Definition & Usage
The state or quality of being useful; usefulness.
Examples
- "The utility of this tool cannot be overstated; it's indispensable for carpenters."
- "In urban development, green spaces add significant utility to the area."
- "Her research demonstrated the utility of artificial intelligence in streamlining workflows."
- "Many consumers evaluate the utility of a product before making a purchase."
- "The utility of this app lies in its ability to simplify complex tasks."
In economics, a measure of preferences over some set of goods and services.
Examples
- "The concept of utility helps economists understand consumer choices."
- "Marginal utility explains how the additional satisfaction from a good diminishes with each extra unit consumed."
- "Utility can be quantified using various theoretical frameworks in economics."
- "The utility theory is foundational for many economic models."
- "Different consumers derive different levels of utility from the same product."
A company providing essential services like water, electricity, or gas.
Examples
- "The utility shut off the power due to dangerous weather conditions."
- "Residents need to pay their utility bills on time to avoid service interruption."
- "The local utility company offers incentives for energy-efficient upgrades."
- "Utility lines are essential infrastructure in modern cities."
- "The city council mandated improvements to the utility services to enhance reliability."
Cultural Context
The term 'utility' has origins in both everyday language and technical fields. It has played a significant role in economics since the 19th century, particularly in theories of consumer behavior and decision-making.
The Utility of Friendship
Story
The Utility of Friendship
Once upon a time in a bustling city, two neighbors, Jake and Lily, often found solace in their balcony chats. Both were busy professionals—Jake, an engineer, and Lily, a marketing specialist. Their conversations ranged from lighthearted banter to deep discussions about life’s complexities. One sunny afternoon, as they sipped their coffees, Jake mentioned, 'You know, Lily, I’ve been thinking about the utility of our friendship. It brings so much joy to my day.' Lily smiled, 'Absolutely! I often find that having someone to discuss even the silliest things adds immense utility to my life.' She then updated Jake about her latest marketing project, emphasizing how the utility of social media for businesses had skyrocketed. 'You work in marketing,' Jake pointed out. 'Understanding utility really shapes consumer preferences. It’s fascinating. Just the other day, I read about how businesses thrive by identifying the utility their products provide.' With excitement, Lily replied, 'Exactly! And on a different note, it reminds me of our local utility company that operates this entire city. Their efficient service is crucial, especially during extremes like last week’s storm.' As they pondered on the infrastructure of the city, Jake opened up about his recent project concerning renewable energy solutions. 'The utility in using these technologies is not just environmental; it directly impacts our quality of life.' That day, their conversations reflected not just the utility of their friendship but the deeper meanings of ‘utility’ in their lives—both as a concept and a company. With every shared laugh and thought-provoking discussion, they realized that friendships, much like utility services, are foundational to a thriving community. As evening fell, the sun dipped below the horizon, painting the sky in warm hues, echoing the warmth of their camaraderie. They understood that the most profound utility they had was not only in productivity or convenience but in the shared journey of life.
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