True/False

Every morning Pete buys a cup of coffee from the vending machine located down the hall in his office building. The location of the vending machine creates form utility for Pete.

The statement is: False.

Explanation:

There are four (4) types of economic utility: form, time, place, and possession. Form refers to how well a product accomplishes the satisfaction of a customer's needs which is not necessarily Pete's case. As he has access to the vending machine in his office building it will be fulfilling the place utility because it implies making products available where potential consumers might be.