Which of the Following Statements Is True of the Exchange

question 115

Multiple Choice

Which of the following statements is true of the exchange utility?

• A) It refers to the elements of the composition and appearance of a product that make it desirable.
• B) It refers to the increase in customer satisfaction gained by making a good or service available at the appropriate time.
• C) It refers to the usefulness of a good or service as a function of the location at which it is made available.
• D) It refers to the increased value of a product that is created as its ownership is transferred.

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Definitions:

Mere Exposure Effect

The phenomenon by which people tend to develop a preference for things merely because they are familiar with them.

Primacy Effect

The tendency to remember information at the beginning of a list or sequence better than information in the middle or at the end.

Political Debate

A formal discussion between individuals or parties where differing viewpoints and policies regarding political issues are presented and argued.

Primacy Effect

The phenomenon in which individuals are more likely to remember and give greater importance to information that they encounter first, compared to information presented later.