Question

1.
c. Short life span
d. Single ownership
B. Fill in the Blanks:
The basic objective of a
is to meet the economic, social, and cultural needs of its members.
2.
A......
business is a mixed type of business.
A business that provides products which do not have a physical form is called
... business
4.
price is the price of goods or products when they are sold to customers for consumption,
and not for resale.
3.
business.
.... or...
5. Merchandising business is also known as
​

Answer 1

Answer:

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Explanation:

The four types of economic utility are form, time, place, and possession, whereby utility refers to the usefulness or value that consumers experience from a product. The economic utilities help assess consumer purchase decisions and pinpoint the drivers behind those decisions.

The four types of economic utility are form, time, place, and possession, whereby utility refers to the usefulness or value that consumers experience from a product. The economic utilities help assess consumer purchase decisions and pinpoint the drivers behind those decisions.Companies strive to increase the utility or perceived value of their products and services to enhance customer satisfaction, increase sales, and drive earnings. The concept of economic utility falls under the area of study known as behavioral economics. It is designed to assist companies in operating a business and marketing the company in a way that is likely to attract the maximum amount of customers and sales revenues.

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