Which Type of Utility Is Created When a Company Makes

question 130

Multiple Choice

Which type of utility is created when a company makes products available where consumers want them?

• A) time
• B) place
• C) possession
• D) form
• E) operations

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Definitions:

Liquidated Damages

A predetermined amount of money that must be paid as compensation if one party breaches a contract, agreed upon by all parties involved.

Statute of Limitations

The law that sets the maximum time after an event within which legal proceedings may be initiated.

Breach of Contract

Failure by one or more parties to fulfill the obligations stipulated in a contract.

Manufacturing Process

The series of actions or steps taken to produce a finished product from raw materials.