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Identify the type of utility created by the following circumstances:

a) Carpentry
b) Selling bread to students
c) Warehousing of imported goods
d) Carriage of cargo to the market

Sagot :

GinnyAnswer

Final answer:

Utility is the measurement of usefulness that a consumer obtains from a good or service. Different circumstances create different types of utility: Form utility, possession utility, time utility, and place utility.


Explanation:

Utility refers to the measurement of usefulness that a consumer obtains from a good or service. Different circumstances create different types of utility:

  • a) Form utility is created by carpentry, transforming raw materials into finished products.
  • b) Selling bread to students generates possession utility, as it enables students to obtain the bread.
  • c) Warehousing of imported goods provides time utility by making them available when needed.
  • d) The carriage of cargo to the market creates place utility as it moves the goods to where consumers can access them.

Learn more about Types of utility here:

https://brainly.com/question/40615171


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