S&D connected to Economic Utility

EQ – What is economic utility?

1. Activator: Economically Speaking: Pumped Up Over Cheap Gas
2. What is the connection to Supply & Demand?
3. What were some Opportunity Costs for the customers?
4. Discussion Question – How many of you would be pleased with this buying experience? Why or why not?
5. Economic Utility- Consumption- Form- Time- Place- Possession
6. Food Experiment: Consumption Utility *
7. Example of Charting Utility
8. Chart your Consumption Utility
9. TOD – What did this experiment illustrate regarding a customer’s economic utility?
10. Looking Ahead: How do you think economic utility impacts supply and demand?
11. TPS – Types of Utility (p. 35)