Production creates:
A)time utility.
B)ownership utility.
C)form utility.
D)marginal utility.

Question

Quizplus · Accepted Answer

Production creates form utility, which refers to the value added to a product through the different stages of production. This includes the design, assembly, and packaging of a product, which ultimately makes it more desirable and useful to consumers. Time utility refers to the value added by making a product available when it is needed, ownership utility refers to the value added through the transfer of ownership, and marginal utility refers to the additional satisfaction or benefit gained from consuming one more unit of a product.

Production Creates