Economics Professor Of course, happy to help two engaged students! Aaliyah Christian Awesome, thanks! Can you explain what economists mean by "utility" again? Economics Professor Sure. Utility is an eqpnomics term and it measures the satisfaction or pleasure a person receives from consuming some quantity of a good or service. We can measure it in units called utils. In class we said that utility is... Subjective and can vary a lot from person to person Standard across all people