Maharashtra BoardEnglish MediumSTD 12 Commerce / ArtsEconomicsUtility Analysis2 Marks
Question
Nilesh purchased ornaments for his sister.
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Answer
Concept: Possession utility. Explanation : When the ownership of a product changes from seller to buyer, it is called possession utility. In the given example, ornaments are purchased by Nilesh for his sister. Ownership of a product changed, so it is an example of possession utility.
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