The value to consumers of having a good or service available where needed constitutes __________ utility.
A)time
B)place
C)possession
D)market
E)form

Question

Quizplus · Accepted Answer

Place utility refers to the value that consumers receive from having a good or service available where they need it. It can include factors such as accessibility, convenience, and proximity. Time utility refers to the value of having a good or service available when needed, possession utility refers to the value of owning or possessing a good or service, market utility refers to the value of having a variety of options to choose from, and form utility refers to the value of having a good or service in a useful form or condition.

The Value to Consumers of Having a Good or Service