Which of the Following Utilities Satisfies Wants by Providing Goods

question 48

Multiple Choice

Which of the following utilities satisfies wants by providing goods and services at a convenient period for customers?

• A) Ownership utility
• B) Time utility
• C) Form utility
• D) Place utility

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Definitions:

Division of Labor

The assignment of different parts of a manufacturing process or task to different people in order to improve efficiency.

Political Organization

Structures and systems governing the conduct of public affairs and the distribution of power within a society.

Valuable Goods

Items or resources that are considered of high value in economic, cultural, or personal terms.

Large-Scale Production

Refers to the manufacture of large quantities of products in efficient and cost-effective methods, often using automation and sophisticated technology.