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TYPES OF UTILITY

Production refers to  “the creation of utility having value-in-exchange” The process of production may create six types of utilities. 1] Form utility – Form utility is the most obvious utility added in the process of production. It refers to a

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Posted in General Economics

UTILITY – TYPES OF UTILITY

Production refers to “the creation of utility having value-in-exchange” The process of production may create six types of utilities. 1] Form utility – Form utility is the most obvious utility added in the process of production. It refers to a

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Posted in General Economics

Form utility

Form utility   Q] Define and explain form utility. Form utility is the want satisfying capacity and therefore the value given to a product due to a change in its form. Form utility is the most obvious utility added in

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Posted in Econleaks Answers