The utility of a commodity is subjective to a persons needs?
True or false
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Feb 26
Yes, the utility of a commodity is subjective to a person's needs and preferences. Different individuals may value the same commodity differently based on their unique circumstances, preferences, and priorities. What one person finds useful and valuable, another person may not find as valuable or may not have a need for at all. This is why the concept of utility is often considered to be subjective and varies from person to person.