BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Form utility usually applies only to services and not to goods. Economic utility is one of the four types of utility that satisfy wants. Selling snow tires to a customer during the first snowstorm of the season is an example of providing time utility. Entrepreneurship is a factor of production.

Detailed explanation-2: -In economics, utility refers to the satisfaction levels consumers receive from buying and using a product or service. According to utility theory, people make purchase decisions based on the degree of satisfaction they get from an item or service.

Detailed explanation-3: -Which statement is true about capital goods? They increase the production of goods.

Detailed explanation-4: -What Is Utility? In economics, utility is a term used to determine the worth or value of a good or service. More specifically, utility is the total satisfaction or benefit derived from consuming a good or service.