utility and value of a resource vary from time to time and place to place. give three examples to support the statement
Answers
The utility of place refers primarily to making goods or services readily and conveniently available to potential customers. Examples of place utility range from a retail store's location to how easy a company's website or services are to find on the Internet.
Increasing convenience for customers can be a key element in attracting business. A company that offers easy access to technical assistance, for example, offers an added value in comparison to a similar company that does not offer similar ease of access. Making a product available in a wide variety of stores and locations is considered an added value addressing the issue of consumer convenience.
The utility of time refers to easy availability of products or services at the time when customers need or want to purchase them. Addressing the utility of time involves a company's business plan and the logistical planning of manufacturing and delivery issues.
For service providers, time utility is addressed by seeking to make services available at the times that they are most necessary or desirable for consumers. It includes considering the hours and days of the week a company chooses to make its services available. The goal is to offer potential customers an added value. A time element such as 24-hour availability might be a value that a company chooses to offer.
Utility and value of resource vary from time to time and place to place like from country to country.
Explanation:
- Earlier human used water during their civilisation for the purpose of drinking and household works.
- Now water is used in generating electricity and also in industries and what not.
- The value of water is more in the place where it lacks like Rajasthan. The value of forest is more in resource lacking countries but not in forest rich countries like Brazil.
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