Session 39- 1

Utility is the the amount of satisfaction we get from using goods and services.

• True

• False

Can we derive utility from a car?

• Yes

• No

Jeff accidently broke his bike. He tried hard to repair it but failed.

will his bike provide utility anymore?

• Yes

• No

Can we derive utility from air?

• Yes

• No

If Ann gets more utility from playing with her cat than reading a book.

We know that Ann ___________.

• does not enjoy reading books
• does not enjoy playing with her cat
• prefers reading a book to playing with her cat
• prefers playing with her cat to reading a book

Toys made of clay is an example of?

• Place utility

• Form utility

Availability of water is an example of?

• Place utility

• Form utility

Smartphone applications is an example of?

• Form utility

• Service utility

Entrepreneurship is the process of setting up a business.

• True

• False

Jen creates and sells value to people for making profits. Who is she?

• Homemaker

• Entrepreneur