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ECONOMICS Higher Secondary Level -1

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Question:

Name any two types of utility?

Author: Vimala Balu



Answer:

Time Utility: A sick man derives time utility from blood not at the time of its donation. but only at the operation – time, i.e., when it is used. Place Utility: A student derives place utility from a book not at the place of its publication (production centre) but only at the place of his education (consumption centre).


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