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Utility Analysis — Economics STD 12 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 12 Commerce / ArtsEconomicsUtility Analysis2 Marks
Question
Form Utility and Service Utiliity.
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Answer

Form Utility :

  1. Form utility arises when the structure of given material changes.
  2. Furniture made out of wood is an example of form utility.
  3. It is related to material welfare.
  4. Form utility is mainly created by artisans like tailor, carpenter, etc.

    Service Utility :

    1. It arises when service is rendered by one person to another.
    2. Knowledge given by teacher to student is an example of service utility.
    3. It is related to non-material welfare.
    4. Service utility is mainly created by professionals like doctor, lawyers, etc.

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