Utility (disambiguation) facts for kids

Utility is a way to measure how much happiness or satisfaction someone gets from a good or service. In economics, it helps us understand why people choose certain things. For example, a tasty snack might give you more utility (satisfaction) than a boring one.

What is Utility?

Utility is a key idea in economics and game theory. It helps explain how people make choices. When you choose to buy a new video game, you expect to get a lot of fun and enjoyment from it. That fun and enjoyment is your utility. The more utility something gives you, the more likely you are to want it.

Measuring Utility

Economists sometimes talk about two ways to think about utility:

Cardinal Utility

This is like saying you can put a number on how much happiness something gives you. For example, a slice of pizza might give you "10 units" of utility, while a glass of water gives you "5 units." This idea helps compare how much more one thing is preferred over another.

Marginal Utility

This looks at the extra happiness you get from having one more unit of something. Imagine you're really thirsty. The first glass of water gives you a lot of utility. The second glass might still be good, but it gives you a little less extra utility than the first. The tenth glass might give you almost no extra utility, or even negative utility if you drink too much! This is called "diminishing marginal utility."

Utility in Different Areas

Utility Software

In computers, a utility is a special program that helps your computer do a specific, small task. Think of it like a handy tool for your computer.

• Examples: These programs can help you clean up old files, compress large files to save space, or protect your computer from viruses. They make your computer run smoother and more efficiently.

Public Utilities

A public utility is a company or organization that provides essential services to everyone. These are things we all need to live comfortably and safely.

• Examples: Companies that provide electricity, water, natural gas, or internet services are public utilities. They maintain the pipes, wires, and systems that deliver these services to homes and businesses.

Utility in Sports

In sports, a utility player is an athlete who can play well in many different positions. They are very valuable to a team because they can fill in wherever they are needed.

• Example: In baseball, a utility player might be able to play both infield and outfield positions. This flexibility makes them a great asset.

Utility Vehicles (Utes)

In countries like Australia and New Zealand, a utility (often called a "ute") is a type of car that combines a passenger cabin with an open cargo tray at the back. It's like a mix between a car and a small truck.

• Purpose: Utes are popular for both work and personal use because they can carry people and also transport tools or goods.

Utility Furniture

During and after World War II in the United Kingdom, utility furniture was made under a government plan. This furniture was simple, strong, and made with limited materials because of wartime shortages.

• Design: It was designed to be practical and affordable for everyone, helping people furnish their homes when resources were scarce.

Marine Corps Combat Utility Uniform

Often just called "Utilities," this is the official uniform worn by the United States Marine Corps when they are in combat or training.

• Purpose: It's designed to be tough, comfortable, and practical for military operations.

See also

• All pages beginning with "Utility"