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Types of utility: Form utility: When the change of form a product increases utility, it is said to possess form utility. Place utility: Place utility
Types of utility: Form utility: When the change of form a product increases utility, it is said to possess form utility. Place utility: Place utility refers to transporting of goods from one place to another, where it is scarce. Time utility: This refers to storing of goods by the sellers and bringing them into the market at the time of shortage. Service utility: Service utility refers to the personal services rendered to the customers directly
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