Sam needed a new pair of bicycle pedals as the pedals of his bicycle had cracks in them. After visiting several stores to find the right ones, he purchased a pair from a local store, All Things Sports, and was satisfied that his needs were met. Which of the following best describes the type of value Sam received?
A) Premium value.
B) Utilitarian value.
C) Hedonic value.
D) Terminal value.

B) Utilitarian value

Explanation:

In utilitarian value :

Hence according to the given scenario, Utilitarian value best describes the type of value sam recieved. Hence, option B is right.

Option- B

"social stratification refers to the way people are ranked and ordered in society. in western societies, stratification is primarily seen and understood as a result of socioeconomic status, which produces a hierarchy in which access to resources, and possession of them, increases from the lower to the upper strata"

answer; protectionism fosters competition and keeps price regulated;