Question

distinguish between knowledge utility and possession utility​

Answer 1

Answer:

When doctors, teachers, lawyers, engineers, etc. satisfy human wants through their services, they create service utility. ...

Explanation:

When the utility of a commodity increases with the increase in knowledge about its use, it is the creation of knowledge utility through propaganda, advertisement, etc.

Answer 2

possession utility:

Utility is also added by changing the possession of a commodity. A book on economic theory has little utility for a layman. But if it is owned by a student of economics, possession utility is created.

Knowledge utility:

When the utility of a commodity increases with the increase in knowledge about its use, it is the creation of knowledge utility through propaganda, advertisement, etc.