____ Is the Organized Study of an Item's Function as It

question 56

Multiple Choice

____ is the organized study of an item's function as it relates to value and cost.

• A) Buying
• B) Purchasing research
• C) New product development
• D) Inventory control
• E) Value analysis

---

Definitions:

Consumer Behavior

The study of how individuals make decisions to spend their resources on consumption-related items.

Marginal Utility

The boost in satisfaction from the consumption of an additional item of a good or service.

Total Utility

The overall satisfaction or pleasure a consumer derives from consuming a certain quantity of goods or services.

Marginal Utility

The extra fulfillment or advantage a person gains by consuming an additional unit of a product or service.