Philippe owns a store that sells lampshades.The process of receiving money in return for lamp shades is _____.
A)marketing
B)place utility
C)exchange
D)time utility

Question

Quizplus · Accepted Answer

The process of receiving money in return for the lampshades is an example of an exchange. Exchange refers to the act of giving something of value (in this case, the lampshade) in return for something else of value (money). It is a fundamental concept in the study of economics and commerce. A is incorrect as marketing refers to the process of promoting and selling products. B is incorrect as place utility refers to the usefulness of a product based on its location or availability. D is incorrect as time utility refers to the usefulness of a product based on the time it is available to the consumer.

Philippe Owns a Store That Sells Lampshades