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Questions and Answers
What is possession utility?
What is possession utility?
- The storage and use of goods at the time of scarcity
- The utility of a commodity increasing with a change in its time of utilization
- The transfer of ownership of goods from one person to another (correct)
- The increased utility of a commodity during examinations
When does time utility occur?
When does time utility occur?
- When the ownership of goods is transferred from one person to another
- When a student has more utility for textbooks during examinations than in vacations
- When the utility of a commodity increases with a change in its time of utilization (correct)
- When goods are stored and used at the time of scarcity
What is an example of time utility?
What is an example of time utility?
- Blood bank (correct)
- Storage and use of goods at the time of scarcity
- Increased utility of textbooks during examinations
- Transfer of goods from sellers to buyers
When does possession utility occur?
When does possession utility occur?
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What is the main characteristic of possession utility?
What is the main characteristic of possession utility?
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In which scenario does time utility occur?
In which scenario does time utility occur?
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What is an example of possession utility?
What is an example of possession utility?
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When does time utility occur?
When does time utility occur?
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