When 3M Satisfies Consumers' Needs for Notepads That Will Not

question 150

Multiple Choice

When 3M satisfies consumers' needs for notepads that will not get lost easily by converting paper and glue into Post-It Notes, it is creating

• A) reminders for employees.
• B) technological advancement.
• C) productive output.
• D) form utility.
• E) possession utility.

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Definitions:

Rational Decision Maker

An individual or entity that makes decisions by systematically considering the available information, alternatives, and potential outcomes.

Economic Theory

A set of principles and methodologies that economists use to understand, explain, and make predictions about economic processes and behaviors.

Economist's Main Professional Objective

The primary goal of economists is to understand how economies operate and to develop strategies or policies to improve economic welfare and efficiency.

Average Behavior

the typical or mean actions or reactions of a group or individual, serving as a standard or norm for comparing specific behaviors.