Economic utility

Economic utility is defined as the value or usefulness of a product or service in fulfilling the customer’s needs or wants. Retailers and e-tailers provide competitive logistics services in so far as they fulfill customer orders, process payments and deliver to, or make available goods for pick up by, the customer. Describe the four (4) types of economic utility and the manner in which each utility applies to the purchase in September 2020 of an organic cotton sweater (i) if purchased online through Amazon Apparel, and (ii) if purchased in person at a retail store near within 5 km of where you live.

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