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In other to enhance the utility of a particular commodity, it was moved from a p...


Question

In other to enhance the utility of a particular commodity, it was moved from a place where it has little utility to another area where its utility is higher. This form of utility is referred to as?

Options

A) Marginal utility

B) Form utility

C) Place utility

D) Total utility

The correct answer is C.

Explanation:

Place utility involves the changing of location of a commodity from one geographical area where it has little utility to another area where its utility is higher. For example, cattle are mainly reared in the North where it has little utility but transported to the South where it has higher utility.


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Dicussion (1)

  • Place utility involves the changing of location of a commodity from one geographical area where it has little utility to another area where its utility is higher. For example, cattle are mainly reared in the North where it has little utility but transported to the South where it has higher utility.

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