Meaning of Utility

what is utility:

Utility is a quality or property of useful value given to an action or a useful object. The term ‘utility’ also means rovecho, convenience, interest result or gain obtained from something. It comes from the latin utilĭtas, – ātis. You can refer to the following termino:

Usefulness of history

history, in a generic way, allows human beings to know actions and acts of the past. Applied in various fields offers a view of the origin and evolution of different realities and fields (as for example, physiotherapy, art or epidemiology).

Allows to get a perspective and new points of view in an analysis. Thus, history provides data relevant to understand the present and also anticipate and plan possible characteristics of the future. In this sense, is usually to talk about the importance and usefulness of history lies in its ability to provide information that enables analysis of realities of the past critricos to improve some aspect, for example, in political decision-making in the future.

Utility in economy

In economics, utility is the ability of a good to satisfy a need or demand for the human being, at the individual or collective level. In this sense, there are different levels of utility, understood as the satisfaction derived from the consumption of a product or a service. The preferences that people have in relation to the consumption of certain goods with respect to others allow, among other factors, to identify demand.

Utility, total and marginal utility function

The utility function is an analytic representation of the preferences of consumers. The utility function follows an upward direction until it reaches a point of total utility.

Total utility is the complete satisfaction of a consumer obtained with a given quantity of an asset. In keeping with the concept of utility function, marginal utility is the downward change in the total utility function when a good is consumed and there is a satisfaction.

Usefulness of logic

Logic has a great importance and practical interest both at the scientific level and in everyday life.

In the field of scientific research, the usefulness of logic resides in its ability to offer procedures to formulate arguments, establish hypotheses through logical propositions, and reach conclusions. fundamental instrument: the method to reach the truth, order, system and the possibility of demonstrating the validity of knowledge and reality.

In every day, logic allows, among other things, to order, consistency and depth of thought processes. Ultimately, logic offers correct ways of thinking that allow to reach the truth.

Utility accounting

In the field of accounting, utility, understood as a benefit or profit is the difference between income earned by a business and all expenses incurred in the generation of such revenue.

Gross profit and net income

Gross profit is the difference between the total of cash sales of an article or group of articles over a period of time and the total cost of the item (s). Means net income, the resulting after subtraction and addition of operational utility, utility costs and non-operating income respectively, taxes and the legal reserve. It is the utility that is effectively distributed to partners.

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