A consumer would not generally be represented as deriving utility from:
A)the brand name of a product.
B)the characteristics of a product.
C)the price of a product.
D)the packaging of a product.

Question

Quizplus · Accepted Answer

While price does play a role in a consumer's purchase decision, it is not typically something that directly provides utility or satisfaction to the consumer. Rather, it is a consideration that affects the overall value or benefits that the consumer perceives from the product. The other three choices - brand name, product characteristics, and packaging - can all contribute to a consumer's utility or satisfaction with a product. A consumer may consider the price of a product, but they do not derive utility from it. Instead, they seek to maximize their utility by obtaining the most satisfaction for the lowest possible cost. Utility is derived from the characteristics of a product, such as its quality and functionality, as well as the packaging and brand name which can influence a consumer's perception and satisfaction with the product.

A Consumer Would Not Generally Be Represented as Deriving Utility