Project 1 – Economic utilities created by business activities

Flashcard maker : Lily Taylor
Utility
– the attributes of a product or service that make it capable of satisfying consumers’ wants and needs
Form utility
– changing raw materials or putting parts together to make them more useful; dealing with making, or producing, things
Place utility
– having a product where consumers can buy it
Time utility
– having a product available at a certain time of the year or a convenient time of the day
Possession utility
– the exchange of a product for some monetary value

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