Which Utility Is Created by Making a Product Available in a Location

question 113

Multiple Choice

Which utility is created by making a product available in a location convenient for customers to purchase?

• A)Form
• B)Ownership
• C)Exchange
• D)Place

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Definitions:

Nonexclusive

A term usually related to goods or services, indicating that they cannot be withheld from individuals who don't pay for them.

Marginal Social Cost

The total cost to society, including both private and external costs, of producing one additional unit of a good or service.

Common Property Resource

A type of resource for which ownership or access rights are shared among individuals or a community, leading to potential issues of overuse or depletion without effective management.

Lighthouse

A tower equipped with a powerful light used to guide or warn ships at sea.