Question 23 of 41
Q.Name the types of utility.
Puducherry TnboardTamil Nadu HSC First Year (DGE) Commerce Board 2022Subjective· 2mImportance★★★★★
56% · 23/41 Questions
You're viewing a preview — the full solution, concept, methods & PYQ mapping are locked.
Start your 14-day free trial to unlock the full solution →The types of utility are Form, Place, Time, Service, Possession and Knowledge utility.
Utility is the want-satisfying power of a good or service. It can be created in different ways, giving rise to different types of utility studied in consumption analysis:
- Form utility — created by changing the form/shape of a good (e.g. wood into furniture).
- Place utility — created by moving a good to a place where it is more useful (transport).
- Time utility — created by storing a good until it is needed (storage/warehousing).
- Service utility — created by rendering personal services (teacher, doctor, lawyer). …
Unlock everything free for 14 days
- Full step-by-step solutions
- Concept-first explanations
- Methods, shortcuts & mistakes
- PYQ mapping + timed mock tests
Full access for 14 days. No credit card required.