_____ satisfies wants by converting inputs into a finished product.
A) Form utility
B) Ownership utility
C) Place utility
D) Time utility

Question

Quizplus · Accepted Answer

Form utility is the process of converting raw materials or inputs into a finished product that satisfies customers' wants and needs. It involves transforming the product into a shape, size, or design that is useful to the customer. Therefore, A) is the best choice as it correctly defines the process of satisfying wants by converting inputs into finished goods. Ownership utility refers to the process of transferring ownership from the seller to the buyer, place utility refers to making the product available at the right place, and time utility refers to making the product available at the right time.

_____ Satisfies Wants by Converting Inputs into a Finished Product