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Question
Distinguish between:
Place utility and Time utility
Solution
| Sr. No. | Time utility | Place utility |
| 1. | When utility of a commodity increases by storing it and making it available during the time of need, it is called time utility. | When a change in the place of a commodity increases its utility, it is called as place utility. |
| 2. | Time utility is created by storing the goods from the time of production to time of consumption. | Place utility is created by transporting the goods from place of production to place of consumption. |
| 3. | Warehousing creates time utility. | Transport services create place utility. |
| 4. | E.g.: Storing of mangoes till they are transported to local markets. | E.g.: Transportation of mangoes from farms to local markets. |
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