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Economic Utility Types

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Economic Utility Types

Question

State the type of utility created by each of the following activities:
(i) Delivering milk to a customer:
(ii) Keeping money in the bank:
(iii) Selling bread to students:
(iv) Making uniform for students

Answer

(i) Place utility.
(ii) Time utility.
(iii) Possession utility.
(iv) Form utility.