HSC Commerce (Marketing and Salesmanship) 12th Board ExamMaharashtra State Board
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Explain the Types of Utility. - HSC Commerce (Marketing and Salesmanship) 12th Board Exam - Economics

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Question

Explain the types of utility.

Solution

The following are the different types of utility:

  1. Form utility- Increase in utility due to change in shape of good is termed as form utility.
  2. Place utility- Increase in utility due to change in the place where it is consumed is called place utility.
  3. Time utility- Increase in utility due to change in the time of usage is called time utility.
  4. Service utility- When services are rendered to the consumers by service providers or professionals, it is called service utility.
  5. Knowledge utility- Increase in utility due to an increased knowledge about a good is known as knowledge utility.
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APPEARS IN

 2013-2014 (March) (with solutions)
Question 4.1 | 4.00 marks

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Solution Explain the Types of Utility. Concept: Types of Utility.
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