Utility's Provided by Business
Products and services that meat customers needs
Form Utility
anywhere buyers and sellers meet to buy and sell goods and services
Market
Individuals are free to make their own economic decisions
Market Economy
The amount of value or usefulness from owning a product
Possession Utility
Activity related to making a product
Production
Economic decisions based on a society’s values, culture, and customs
Compound Economy
The easier it is to purchase a product
Place Utility
Activities involving money
Finance
Government makes all economic decisions for its citizens
Command economy
The easier and quicker a product can be purchased
Time Utility
Activity, identify ,anticipate and satisfy customer demand while making a profit
Marketing
Economic factors that affect prices and demand of a goods and services
economic factors
When Facts and details of an product are made available do customer
Information Utility
Controlling and making decisions
about a business
Management
Government and individuals make decisions about economic resources
Mixed Economy