JAMB - Economics (2017 - No. 22)
Changing the structure of a commodity in order to increase its utility is called?
Time utility
form utility
marginal utility
place utility
Spiegazione
Form utility refers to the change in the form or structure of a commodity during its manufacturing process in other to increase its utility. For example, a change in the form of raw cotton to clothing material. Cotton in its raw form does not give satisfaction until it is changed to a clothing