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  1. Describe an example of a company that manufactures a product. (2-4 sentences. 1.0 points)
  2. List three examples of businesses in the service industry. (Complete sentences are not necessary. 1.5 points)
  3. List three nondurable goods that you use on a regular basis. (Complete sentences are not necessary. 1.5 points)
  4. List three staple goods that you or your household buys on a regular basis. (Complete sentences are not necessary. 1.5 points)
  5. List three impulse goods that you or someone you know has purchased. (Complete sentences are not necessary. 1.5 points)
  6. Describe a shopping good that you or someone you know purchased. What kind of research did you or that person do before buying the product? (1-2 sentences. 1.0 points)
  7. Pick a product that is currently being sold, and analyze its economic utility, using the questions below.
ADescribe the product's form utility. Is it good, or bad? Explain. (2-3 sentences. 2.0 points)
BDescribe the product's place utility. Is it good, or bad? Explain. (2-3 sentences. 2.0 points)
CDescribe the product's time utility. Is it good, or bad? Explain. (2-3 sentences. 2.0 points)
DDescribe the product's possession utility. Is it good, or bad? Explain. (2-3 sentences. 2.0 points)
EDescribe the product's information utility. Is it good, or bad? Explain. (2-3 sentences. 2.0 points)

f. Describe at least one way the company could improve the economic utility of this product. (2-3 sentences. 3.0 points)

  1. Choose a real or made up company and describe at least one thing that company could do to improve its economies of scale. (2-4 sentences. 3.0 points)
  2. Describe a product that you think has saturated its market. What makes you think it has saturated its market? (2-5 sentences. 3.0 points)

Verified Answer :

meerkat18
  1. The Coca-cola Company is a company that manufactures products. It is a multi-national company that manufactures soft drinks.
    2. The three examples of businesses in service industry are accounting, plumbing services, and restaurants.
    3. The three non-durable goods that one use on a daily basis are tissues, cotton buds, and toothpicks.
    4. The three staple goods that a household buy on a regular basis are salt, sugar, and bread.
    5. Gadgets, jewelries, and make-up are impulse goods that someone might purchase.
    6. When buying a gadget, it is better to check the reviews by other customers.
    7. a. The form utility of Coca-cola in plastic bottles is very good. It is easier to bring anywhere compared to the glass bottled ones.
    b. The place utility of Coca-cola is also very good. They deliver in convenience and grocery stores.
    c. Coca-cola can be purchased anytime. There are stores that are open 24/7.
    d. Drinking Coca-cola can satisfy one's thirst. There are also various sizes available.
    e. The company creates TV advertisement. They also advertise through print ads and billboards.
    f. The company have a good economic utility. There is no suggestion for improvement.
    8. To improve a company's economic of scale, they must have a balance between profit and expenses. Marketing expenses must also be regulated.
    9. One product that saturated its market is iPhone. It is because the demand for that product is high.
saadhussain514

Answer 1:

The Coca-cola Company is a company that manufactures products. It is a multi-national company that manufactures soft drinks.

Explanation:

The Coca-Cola Company is an American company, and producer, retailer, and marketer of nonalcoholic drink stores and sugars. It's easy to know Berkshire's top stock holdings because Buffett evaluates them in his yearly report to stockholders. His last one reveals that Coca-Cola is Berkshire's second-largest holding, estimated at year-end at roughly $16.5 billion.

Answer 2:

The three examples of businesses in service industry are accounting, plumbing services, and restaurants.

Explanation:

The four methods in which a company may be set up are Individual Proprietorship, Partnership, Corporation, and Checked Contract Company or LLC. Sole Proprietorship, this is the most simplistic business reality there is. As the name indicates, the company has just one owner.

Answer 3:

The three non-durable goods that one use on a daily basis are tissues, cotton buds, and toothpicks.

Explanation:

Nondurable goods are goods that are utilized or are only available for a brief interval of time because they wear out or become unusable. Examples of non-durable goods comprise makeups, washing goods, food, fuel, beer, cigarettes, paper goods, rubber, textiles, clothing, and footwear.

Answer 4:

The three staple goods that a household buy on a regular basis are salt, sugar, and bread.

Explanation:

Staple goods are often food objects like milk, wheat, sugar etc as they are consumed in great number and they develop a powerful part of a diet. They are usually cheap and vary over sites. These produce carbohydrates, proteins, and fats the three macronutrients requirements for durability and health.

Answer 5:

Gadgets, jewelries, and make-up are impulse goods that someone might purchase.

Explanation:

An impulse purchasing or impulse shopping is an unplanned choice to buy a commodity or set, made just before a buying. One who manages to do such purchases is related to as an impulse purchaser or impulse buyer.

Answer 6:

When buying a gadget, it is better to check the reviews by other customers.

Explanation:

Consumer goods that are normally obtained simply after the consumer have a balanced price, variety, and style in more than one market balance convenience assets.

Answer 7:

A) The form utility of Coca-cola in plastic bottles is very good. It is easier to bring anywhere compared to the glass bottled ones.

Explanation:

Bottled water corporations frequently use BPA-free plastic, but tied into plastic bottles are other substances that can leak out if bottles are opened to heat or sit around for a great time. Any of these compounds are probable endocrine disruptors.

B) The place utility of Coca-cola is also very good. They deliver in convenience and grocery stores.

Explanation:

Place utility might include exporting a complete merchandise to a new position that is more convenient to customers than the position where it was originally produced.

C) Coca-cola can be purchased anytime. There are stores that are open 24/7.

Explanation:

The utility of time leads to the simple availability of goods or services at the time when consumers need or want to buy them. For assistance providers, time utility is directed by seeking to make services accessible at the times that they are most needed or useful for consumers.

D) Drinking Coca-cola can satisfy one's thirst. There are also various sizes available.

Explanation:

The utility of possession relates to the profits consumers arise from the control of a company's product once they have bought it. Giving positive investment terms toward ownership is another way a company might want to raise the price of possessing its products.

E) The company creates TV advertisement. They also advertise through print ads and billboards.

Explanation:

A service agency that keeps up-to-date databases for the public path. A central reference of knowledge for an association or society.

F) The company have a good economic utility. There is no suggestion for improvement.

Explanation:

The utility is a term adopted by economists to explain the range of value that a consumer gets from any good. The utility may regulate how much one appreciates a movie or the feeling of safety one gets from getting a deadbolt.

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