The Utility Function of a person is the default modus operandi he or she employs to make sense of the environment around them, and the way they integrate their incoming information into their knowledge base. Not everyone has a very positive and effective utility function. The same concept when applied to economics measures the preferences consumers apply to their consumption of goods and services. It is obvious that the first concept is obviously the more essential one, as it pertains to all of life, and not just our consumption.