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In other to enhance the utility of a particular commodity, it was moved from a...

Economics
JAMB 2018

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
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Correct Answer: Option C
Explanation

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.


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WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC offline past questions - with all answers and explanations in one app - Download for free
WAEC Past Questions, Objective & Theory, Study 100% offline, Download app now - 24709
WAEC May/June 2024 - Practice for Objective & Theory - From 1988 till date, download app now - 99995
WAEC offline past questions - with all answers and explanations in one app - Download for free