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Utility Analysis — Economics STD 12 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 12 Commerce / ArtsEconomicsUtility Analysis2 Marks
Question
Form Utility and Time Utility.
✓

Answer

Form Utility :

  1. Form utility arises when the structure of given material changes.
  2. E.g. Furniture made out of wood.
  3. Technology and intelligence creates form utility.

    Time Utility:

    1. Time utility is created by changing the time of utilisation.
    2. E.g. Wheat stored during harvest season and released during off season.
    3. Warehousing creates time utility.

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