________ Utility Adds Value to Goods by Having Them Available

question 281

Multiple Choice

________ utility adds value to goods by having them available where people want them.

• A) Spatial
• B) Location specific
• C) Place
• D) Geographic

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Definitions:

Bilateral Contract

A bilateral contract is an agreement in which each of the two parties makes a promise to the other, creating mutual obligations.

Consideration

In contract law, a benefit or something of value that is exchanged between parties to a contract, making the agreement legally binding.

Contracting Party

An entity or individual that enters into a legal contract or agreement.

Unilateral Contract

A contract in which only one party makes a promise or undertakes a performance without requiring a reciprocal agreement from the other party, often associated with reward scenarios.