Economic utility

Economic utility

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  • Economic Utility
  • Economic utility refers to the measurement of usefulness obtained from a good or service. 
  • Form
  • Metal, paper, and cardboard factories are used for each notebook. Each material is assembled into a notebook. 
  • Place
  • The notebooks are then shipped to schools, office supply stores, Walmart, and Target. 
  • I'm Bella and I'm selling notebooks!
  • Time
  • Form is usefulness created by altering/changing the form or shape of a good to make it useful.
  • Information
  • Place utility is making sure that goods/services are available at the place where they are needed/wanted by consumers.
  • Possession
  • Time is the usefulness created when products are made available at the time they are needed/wanted by consumers. 
  • They will be sold year round but especially in the months of July, August and September. 
  • Information involves communication with the consumer and includes things like nutrition facts and material lists.
  • The label on the notebook would say the materials used, the page count, any special features it has, and college or wide ruled.
  • Possession involves selling the product/transferring the ownership and is the exchange of currency for the product. 
  • We accept credit/debit cards and cash as payment for this product. 
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