Advertisements
Advertisements
प्रश्न
Explain time utility with an example.
उत्तर
Utility can also be created by making some stock of goods at one time and by supplying the same at another time period. eg. Food Corporation of India creates time utility by creating a buffer stock of food grains in the harvesting season and releasing the same at a reasonable price in the lean season.
APPEARS IN
संबंधित प्रश्न
Choose the correct term for the given definition. 'An activity which creates an economic value'.
Identify the incorrect statement from the following:
A farmer in Punjab transports wheat from the farm to a flour mill. Is this activity considered as production? Why?
What do you mean by factors of production?
What are the four basic factors of production?
According to 'Adam Smith' production means production of material goods only.
Choose the correct term for the given definition.
Any activity which creates present and future utility.
Explain the meaning of production.
State three factors on which production depends.
'Land is the original source of all material wealth' in this context explain four determinants that influence the productivity of land.