intro to business - economics

The 5 types of economic utilities are Time Utility, Place Utility, Form Utility, Possession Utility, and Information Utility

• True

• False

Offering auto leases rather than requiring customers to pay the full purchase price provides possession utility. 

• True
• False

Convenience stores open 24 hours a day usually provide both time and place utility. 

• True
• False

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

A new surf shop opens in the middle of Brooklyn, New York. This shop lacks...

• Time Utlity

• Place Utility

• Information Utility

• Possession Utility

A new vending machine in school begins offering Apple Pay along with their standard cash and debit card pay options. This is an example of....

• Time Utility

• Information Utility

• Form Utility

• Possession Utility

Coke Zero updates its product label to communicate its sugar free features. This is an example of...

• Place Utility

• Information Utility

• Form Utility

• Possession Utility

Apple's latest product uses shock resistant glass to create a shatter proof screen. This is an example of...

• Form Utility

• Information Utility

• Place Utility

• Possession Utility

A school begins offering tutoring hours to meet the needs of their working students who are seeking tutoring. This is example of...

• Place Utility

• Information Utility

• Time Utility

• Form Utility

Apple Care offers customer support through chat and a phone hotline to all customers. This is an exame of..

• Form Utility

• Time Utility

• Place Utility

• Information Utility