Which of the following is TRUE of utility?
A. The four major kinds of utility are form, time, place, and ownership.
B. Utility is defined as a ratio of benefits to costs, as viewed from the eyes of the beholder.
C. Place utility is created when the firm converts raw materials into finished products that are desired by the market.
D. Form utility is created when products are available to customers at a convenient location.
E. The three utilities-form, price, and ownership-are created by marketing.
Answer: A
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