Final answer:
The correct answer is option D. Form.
Step-by-step explanation:
The value added by turning raw materials into finished goods and services through various inputs such as labor and manufacturing processes is known as form utility. This is evident in how manufacturing industries transform basic items into products with higher use value, thus generating substantial profits or value added per unit.
In historical context, these manufacturing activities once provided high-quality life for numerous employees due to the lucrative nature of the jobs they offered.
The law of diminishing marginal utility states that as more of a good or service is consumed, the utility from additional units tends to decrease compared to earlier units. This principle highlights the decreasing satisfaction gained from consuming additional quantities of the same good or service.