Explanation
Utility is defined as "the functionality offered by a product or service to meet a particular need"2. Utility can be summarized as "what the service does" and can be used to determine whether a service is able to meet its intended outcomes1.

Explanation
Costs are the amount of money spent on a specific activity or resource. From the service consumer's perspective, there are two types of cost involved in service relationships:
Costs removed from the consumer by the service (a part of the value proposition). For example, for a car sharing service, the customer does not pay for the actual cost of purchasing the car.
https://www.bmc.com/blogs/itil-key-concepts-service-management/