Question

question 1 (1 point)
production is one of the four functions of business
true
false

question 2 (1 point)
utility describes the characteristics of a product that satisfy wants and needs. there are five types of utility and they are
a form, sourcing, quality, finance, marketing
b place, time, information, inventory, supplier
c form, place, time, information, possession
d information, inventory, purchasing, scheduling, planning
e division of labor, form place, time, information

Explanation:

Question 1

In business, the four main functions are typically production (or operations), marketing, finance, and human resources (or management). So production is indeed one of the four functions of business.

The five types of utility in business (related to how a product satisfies wants/needs) are form utility (changing raw materials into a product), place utility (making product available where needed), time utility (making product available when needed), information utility (providing info about the product), and possession utility (facilitating ownership transfer). Option c lists these five correctly.

Answer:

True

Question 2