What economic utility has to do with how and where a product is made available to the public, whether it be a physical storefront anywhere in the world, a website, or an app?
(1 point)
Responses
form
form
time
time
place
place
possession
possession
3 answers
The economic utility that has to do with how and where a product is made available to the public is place utility. Place utility refers to the convenience and accessibility of a product to customers, whether it is through physical storefronts, websites, or apps. It focuses on the location and distribution channels of a product, ensuring that it is easily accessible to the target consumers.
What are the five types of economic utility?
(1 point)
Responses
labor, opportunity, profits, losses, margins
labor, opportunity, profits, losses, margins
implicit, explicit, supply, demand, information
implicit, explicit, supply, demand, information
form, time, place, information, and possession
form, time, place, information, and possession
land, labor, loans, capital, entrepreneurship
(1 point)
Responses
labor, opportunity, profits, losses, margins
labor, opportunity, profits, losses, margins
implicit, explicit, supply, demand, information
implicit, explicit, supply, demand, information
form, time, place, information, and possession
form, time, place, information, and possession
land, labor, loans, capital, entrepreneurship
The five types of economic utility are form, time, place, information, and possession.
1 answer