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Standard XII
Business Studies
Convenience Product
What are the ...
Question
What are the types of utility ?
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Solution
Types of utilities:
Form utility:
this utility is derived when you change a form of something into a thing which satisfies your want.
Place utility:
this utility is derived when you can transport goods from one place to another.
Time utility:
it is derived by keeping or storing goods over a period of time so that they can be used later.
Service utility:
it is derived by rendering professional services to consumers.
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