Identifying the Five Types of Economic Utility

A furniture company assembles wooden planks, nails, and fabric to create a comfortable sofa for customers to purchase. Type of Utility: _________

• Form Utility

• Time Utility

• Place Utility

• Possession Utility

A retail store stays open 24 hours a day to allow customers to shop whenever it is convenient for them.

• Time Utility

• Place Utility

• Form Utility

• Possession Utility

A farmer harvests fresh strawberries and transports them to a grocery store in the city where they are sold to customers.

• Place Utility

• Time Utility

• Form Utility

• Possession Utility

A car dealership offers financing options to customers so they can purchase a car without paying the full price upfront.

• time

• place

• possession

• information

A tech company provides detailed product descriptions and customer reviews on its website to help buyers make informed decisions. Type of Utility: _________

• information

• place

• possession

• forn

A smartphone company offers trade-in deals, allowing customers to exchange their old phones for credit toward a new one.

• possession

• informationa

• place

• form

A gas station is strategically built near a busy highway to make it convenient for travelers to refuel their cars. Type of Utility: __________

• place

• possession

• information

• form

A clothing brand provides a virtual fitting room on its website, where customers can see how clothes will look on them before purchasing. Type of Utility: __________

• possession

• information

• place

• form

An online retailer offers next-day shipping so customers can receive their purchases quickly.

• possession

• place

• information

• time

A bakery takes raw ingredients like flour, sugar, and eggs and bakes them into fresh bread and pastries for customers.

• form

• time

• information

• possession