The fact that people value rare things more than things that are abundant is one of the basic principles behind which utility? a. image utility b. possession utility c. place utility d. form utility reset

Possession Utility

Explanation: Utility is a measure of a satisfaction derived from the consumption of a item.  Utility is measured in utils. There are many forms of utility,

a. Form utility- It is derived when the consumer get the good or service that they demanded.

b. Time utility- This is derived when the goods are made available on time when they are most wanted.

c. Place utility- This utility is obtained when goods are made available at convenient locations to the customers.

d. Possession utility- This is derived by the ownership of a product or service.

The fact that people value rare things more than things that are abundant (that is ownership of a product that are rare) is one of the basic principles possession utility.

answer; whoever is willing and able to pay the price;

the correct answer is:     [c]:     " cyclical unemployment " .