In other to enhance the utility of a particular... - JAMB Economics 2018 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?
A
Marginal utility
B
Form utility
C
Place utility
D
Total utility
correct option: c
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.
Please share this, thanks:
Add your answer
No responses