A product's ability to satisfy a large number of consumers at the same time is called:

Question

Quizplus · Accepted Answer

Simultaneous consumption refers to a product that can be enjoyed by multiple consumers at the same time, such as a movie or concert. This ability to satisfy a large number of consumers simultaneously can increase the product's value and demand. Network effects refer to the increased value of a product or service as more people use it, while rent-seeking refers to seeking to increase profits without creating any new value. Consumer sovereignty refers to the idea that consumers determine what is produced through their purchasing decisions, which is not relevant to the question.

A Product's Ability to Satisfy a Large Number of Consumers