Question
Place Utility and Time Utility.
| Place Utility | Time Utility |
| 1. Place utility is created by changing the place of utilisation. | (a) Time utility is created by changing the time of utilisation. |
| 2. Transporting goods from one place to another, generally from place of abundance to place of scarcity, from place of manufacturing to place of consumption (Market), etc. | (b) Storing of goods during abundance and releasing them during scarcity or goods are warehoused from time of production to time of consumption. |
| 3. All types of transport service create place utility. | (c) Warehousing service create time utility. |
| 4. E.g. Food grains from village farm are sold in city markets. | (d) E.g. Wheat stored during harvest time and released during off season. |
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