Marketers Provide a Total of Four Types of Utility: Primary

question 233

True/False

Marketers provide a total of four types of utility: primary, secondary, marginal, and total.

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Definitions:

Deceit

A tort that arises when a party suffers damage by acting upon a false representation made by a party with the intention of deceiving the other.

Valid Contract

An agreement between two parties that is recognized by law and is enforceable by the legal system.

Undue Influence

A state of affairs whereby a person is so influenced by another that the person’s judgment is not his or her own.

Repudiate

To refuse to accept or be associated with, particularly in the context of rejecting the validity of a contract.