Question

.The value to consumers that comes from the production or alteration of a product or service constitutes__________ utility.

a. place
b. market
c. form
d. possession
e. time

Answer 1

Possession utility is the value that comes from the production or alteration of a product or service. It refers to the satisfaction or benefit a consumer obtains from owning or possessing a product.

Step-by-step explanation:

The value to consumers that comes from the production or alteration of a product or service constitutes possession utility. Possession utility refers to the satisfaction or benefit a consumer obtains from owning, holding, or possessing a product. For example, a person purchasing a car gains possession utility from being able to drive the car and fulfill their transportation needs.