Name and explain the four types of economic ...

[cmoore54]

Name and explain the four types of economic utility.

Question 2

Define entrepreneurship. Why is it an important economic resource?

[bfulkerson77]

Answer to Question 1

Time utility means making a product available at a time when consumers want it. Place utility involves making a product available where consumers want it. Form utility occurs when the actual form of the product attracts consumers. Possession utility means providing different ways for consumers to own a product.

Answer to Question 2

Entrepreneurship is the ability to envision new opportunities and undertake them. Most businesses begin with entrepreneurship, and entrepreneurship is essential to developing new products and services.

[cmoore54]

Thanks for the timely response, appreciate it

[amandalm]

Excellent