Types of Economic Utility

Going to the restaurant closest to your house is an example of

• time utility

• place utility

• form utility

• possession utility

Going to the restaurant that you think has the best food is an example of

• time utility

• place utility

• form utility

• possession utility

Going to the restaurant that is open when you want to eat is an example of

• time utility

• place utility

• form utility

• possession utility

Going to the restaurant that accepts apple pay is an example of

• time utility

• place utility

• form utility

• possession utility

A new Best Buy opens in Meredith but it's not close to your house.

You decide to purchase a TV from them anyways because they offer a payment plan. This is an example of

• time utility

• place utility

• form utility

• possession utility

You really want a new set of beats audio. Target is closed so you drive to Best Buy

because their hours are longer and buy them even though they are more expensive. This is an example of?

• place utility

• time utility

• form utility

• possession utility

Some car dealerships offer buy here pay here financing. They will help you get a loan that day. This is an example of

• time utility

• place utility

• form utility

• possession utility

Wendy's is 5 minutes from your house and their drive through is really fast. McDonalds is a lot closer but you don't like their food. You choose Wendys. This is an example of

• place utility

• time utility

• form utility

• possession utility

Packaging milk into smaller containers to meet the demand of people who live alone is an example of

• form utility
• possession utility
• time utility
• place utility

When economic utility is improved

• prices charged by businesses will increase
• consumers will have fewer choices
• customers satisfaction improves as well
• competition will be greater