Distinguish between:
4. Place utility and Time utility
Answer:
4)
Place utility
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Time utility
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It is the utility derived from the change in the place of utilisation.
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It is the utility derived from the change in the time of utilisation.
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It increases with the change in the place of utilisation.
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It increases with the change in the time of utilisation.
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It is created when a good is transferred from the place of production to the place of consumption.
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It is created by storing goods so that they can be used when the demand arises.
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