Question

__________ is the value or want-satisfying ability that is added to products by organizations that make the product more useful or accessible to consumers.

Answer 1

Answer:

Utility

Explanation:

Utility is the value or want-satisfying ability that is added to products by organizations that make the product more useful or accessible to consumers.

Utility is a term in economics that refers to the total satisfaction received from consuming a good or service. Economic theories based on rational choice usually assume that consumers will strive to maximize their utility. The economic utility of a good or service is important to understand, because it directly influences the demand, and therefore price, of that good or service. In practice, a consumer's utility is impossible to measure and quantify. However, some economists believe that they can indirectly estimate what is the utility for an economic good or service by employing various models.