0
Logistics contributes to time utility by recognizing that different products have different sensitivities to time. For example, a three-day late delivery of bananas likely has more serious consequences than a three-day late delivery of a box of pencils. As for place utility, logistics facilitates products being moved from points of lesser value to points of greater value.
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
Definition of time utility and place utility?
Time Utility when either the input or the output is preserved for storage purpose in order to be utilized when there is scarcity of that product to be utilized by the consumers.
What are three types of utility in economics?
form utility time utility place utility
What are some economic utilities created by business activities?
Form Utility, Place Utility, Time Utility, Possession Utility, and Information Utility.
What are the functions of retailers to consumer?
Form utility, time utility, place utility, ownership.... these are the functions of retailer...
What is meant by time utility and place utility and identify how the transportation function adds utility to product?
PLACE UTILITY - The movement acrosss place or distance of one product to its destination. TIME UTILITY - created by warehousing and storing products until they are needed. TRANSPORTATION is a factor of time utility; it determines how fast and how consistently a product moves from one point to another. This is known as time-in-transit and consistency of service.
What are the Different types of utilities created by intermediaries?
There are Six Utilities: Form Utility, Time Utility, Place Utility, Possession Utility, Information Utility, and Service Utility.
Is a sporting goods store that sells fishing licenses at the start of each sport fishing season creating a time utility or a place utility?
time utility。
Three types of utility are?
time, place, form
Who provides time and place utility?
sales man
What is value added role of logistics?
¨Form ¨Time ¨Place ¨Quantity ¨Possession
What are 3 economical utilities?
form utility, time utility, place utility. source: my brain(self education over the years)
What are the three types of utility in Economics?
time,place, form
