1. describe an example of a company that manufactures a product. (2-4 sentences. 1.0 points)
2. list three examples of businesses in the service industry. (complete sentences are not necessary. 1.5 points)
3. list three nondurable goods that you use on a regular basis. (complete sentences are not necessary. 1.5 points)
4. list three staple goods that you or your household buys on a regular basis. (complete sentences are not necessary. 1.5 points)
5. list three impulse goods that you or someone you know has purchased. (complete sentences are not necessary. 1.5 points)
6. describe a shopping good that you or someone you know purchased. what kind of research did you or that person do before buying the product? (1-2 sentences. 1.0 points)
7. pick a product that is currently being sold, and analyze its economic utility, using the questions below.
a. describe the product's form utility. is it good, or bad? explain. (2-3 sentences. 2.0 points)
b. describe the product's place utility. is it good, or bad? explain. (2-3 sentences. 2.0 points)
c. describe the product's time utility. is it good, or bad? explain. (2-3 sentences. 2.0 points)
d. describe the product's possession utility. is it good, or bad? explain. (2-3 sentences. 2.0 points)
e. describe the product's information utility. is it good, or bad? explain. (2-3 sentences. 2.0 points)
f. describe at least one way the company could improve the economic utility of this product. (2-3 sentences. 3.0 points)
8. choose a real or made up company and describe at least one thing that company could do to improve its economies of scale. (2-4 sentences. 3.0 points)
9. describe a product that you think has saturated its market. what makes you think it has saturated its market? (2-5 sentences. 3.0 points)