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In economics, utility is a measure of a certain person's satisfaction from a certain state of the world. Over time, the term has been used with at least two meanings. In a normative context, utility refers to a goal or objective that we wish to maximize, i.e., an objective function.
A public utility company (usually just utility) is an organization that maintains the infrastructure for a public service (often also providing a service using that infrastructure). Public utilities are subject to forms of public control and regulation ranging from local community-based groups to statewide government monopolies .
In baseball, a utility player or utility man is a player who has the ability to play more than one position in the field and is primarily used as a substitute. The term super utility player may be used to refer to a player who can play all or most positions, or a player who regularly appears in the starting lineup at different positions.
In sports, a utility player is one who can play several positions competently. Sports in which the term is often used include association football , basketball , American football , baseball , rugby union , rugby league , softball , ice hockey , and water polo .
The word utility is used to mean general well-being or happiness, and Mill's view is that utility is the consequence of a good action. Utility, within the context of utilitarianism, refers to people performing actions for social utility. By social utility, he means the well-being of many people.
An electric utility, or a power company, is a company in the electric power industry (often a public utility) that engages in electricity generation and distribution of electricity for sale generally in a regulated market. [1] The electrical utility industry is a major provider of energy in most countries.
In Canada, a public utilities commission (PUC) is a public utility regulator, typically a semi-independent quasi-judicial tribunal, owned and operated within a municipal or local government system under the oversight of one or more elected commissioners. [1] Its role is analogous to a municipal utility district or public utility district in the US.
Military light utility vehicle, or simply light utility vehicle (LUV), is a term used for the lightest weight class military vehicle category. [1] A Jeep-like four-wheel drive vehicle for military use [2] by definition lighter than other military trucks and vehicles, inherently compact and usually with light or no armour, with short body overhangs for nimble all-terrain mobility, and ...