Availability of Goods and Services at Convenient Locations Creates

question 63

Multiple Choice

Availability of goods and services at convenient locations creates:

• A) form utility.
• B) time utility.
• C) place utility.
• D) ownership utility.

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Definitions:

Domestic Market

The market within a country's borders, referring to the trading of goods and services.

Foreign Supplier

A company or individual that provides goods or services from outside the buyer's home country.

Comparative Advantage

The ability of a country or firm to produce a particular good or service at a lower opportunity cost than others, leading to more efficient global production and trade.

Dumping

The practice of selling a product in a foreign market at a price lower than its domestic market or below its cost of production, often to increase market share or eliminate surplus.