Which of the Following Is TRUE of Utility

question 16

Multiple Choice

Which of the following is TRUE of utility?

• A) The three utilities-form, price, and ownership-are created by marketing.
• B) Utility is defined as a ratio of benefits to costs, as viewed from the eyes of the beholder.
• C) Form utility is created when products are available to customers at a convenient location.
• D) The four major kinds of utility are form, time, place, and ownership.
• E) Place utility is created when the firm converts raw materials into finished products that are desired by the market.

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Definitions:

Linguistically Linked

Having a connection or relationship through language, often referring to how different languages or dialects can influence one another or how language ties individuals to cultural identities.

Cultural Connections

The relationships, shared experiences, or commonalities between different cultures that facilitate understanding and interaction.

Fava Beans

A type of legume that is cultivated for its large, edible seeds, enjoyed in many cuisines around the world for their nutritional value.

Peanuts

A type of legume native to South America, valued for its edible seeds.