Question

“Godown creates time utility”-discuss​

Answer 1

Answer:

A warehouse creates time utility by bringing the time gap between the production and consumption of goods. It helps in making available the goods whenever required or demanded by the customers.

Some goods are produced throughout the year but demanded only during particular seasons, e.g., wool, raincoat, umbrella, heater, etc. on the other hand, some products are demanded throughout the year but they are produced in certain region, e.g., wheat, rice, potatoes, etc. Goods like rice, tobacco, liquor and jaggery become more valuable with the passage of time.

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Answer 2

Godown

a warehouse in a country of southern or eastern Asia. go down. verb. went down; gone down; going down; goes down.

Explanation:

By bridging the time gap between the production and consumption of commodities, a warehouse produces time utility. It aids in the availability of goods whenever they are wanted or demanded by clients. With the passage of time, commodities such as rice, tobacco, whiskey, and jaggery gain in value.Warehousing creates time utility in goods

Time utility is established by making a good or service readily available when clients require or desire it. The higher the perceived temporal utility of a thing, the easier and faster it can be purchased (and used) at that moment. Furthermore, in times of scarcity, time utility is always high.