Meaning & Definition of word "Utility"

Utility

/juːˈtɪl.ɪ.ti/

1. The state of being useful, profitable, or beneficial.
- Example: The utility of the new software was evident in its ability to streamline the workflow.
2. A service or product that performs a specific function or is useful for a particular purpose.
- Example: The electric company is a utility that provides power to thousands of households.
3. In economics, the satisfaction or benefit derived from consuming goods or services.
- Example: Consumers seek to maximize their utility when making purchasing decisions.
4. A measure of preferences over a set of goods and services.
- Example: In game theory, players often analyze their strategies to maximize their expected utility.

1. To make use of something.
- Example: The engineers sought to utility the existing resources in order to minimize costs.

●Late Middle English: from Latin utilitas, from utilis 'useful.'

public utility:

A regulated entity that provides essential services to the public.

utility player:

A sports player capable of playing multiple positions effectively.

utility knife:

A versatile knife used for various tasks.

usable:

Able to be used.

utility bill:

A bill for services such as electricity or water.

utility vehicle:

A vehicle designed to transport goods or people.

Meaning: A handy tool or solution.

● Example Sentence: This gadget is a total utility for fixing things around the house.

Meaning: Something that has great worth or significance.

● Example Sentence: Her advice was pure utility during the project.