The entire satisfaction that a consumer derived from a successive consumption of a particular commodity is known as

The entire satisfaction that a consumer derives from a successive consumption of a particular commodity is known as total utility. Total utility represents the overall amount of satisfaction that a consumer receives from consuming a certain quantity of a product. As the consumer consumes more units of the product, the total utility increases, but at a decreasing rate. This is because of the concept of diminishing marginal utility, where each additional unit of the product provides less and less satisfaction to the consumer.