An Item Has Utility for a Consumer If It

question 59

Multiple Choice

An item has utility for a consumer if it

• A)is scarce.
• B)has a high price.
• C)is something everyone else wants.
• D)generates enjoyment or satisfaction.

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Definitions:

Spatial Closeness

The physical proximity or nearness of objects or individuals to one another, which can influence social interactions and relationships.

Interchangeable

Capable of being used or substituted in place of each other without significant difference or loss of function.

Paradox Of Close Relationships

The phenomenon where close relationships, which are sources of immense joy, can also be sources of significant stress and disappointment.

Mere Exposure Effect

An increase in positive feelings toward a novel stimulus (such as a person) based on frequent exposure to it.