Which statement about utility is accurate?
Multiple Choice
The four major kinds of utility are form, time, place, and ownership.
Form utility is created when products are available to customers at a convenient location.
The three utilities—form, price, and ownership—are created by marketing.
Utility is defined as a ratio of benefits to costs, as viewed from the eyes of the beholder.
Place utility is created when the firm converts raw materials into finished products that are desired by the market.