Utility Is

question 88

Multiple Choice

Utility is:

• A) a way of describing a consumer's wants.
• B) only applicable to goods that are purchased.
• C) a measure of a consumer's income
• D) All of these are true.

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Definitions:

Past Experience

Previous events or activities that an individual or organization has encountered, affecting their behavior or decisions.

External Information

Information that originates outside an organization, which can influence decisions and strategies, including market trends, economic indicators, and competitive data.

Impulse Purchases

Items bought without prior planning or consideration, often triggered by emotions or the immediate appeal of the product.

Self-Actualization

When a person is completely satisfied with his or her life.