Practicing Success

Target Exam

CUET

Subject

Entrepreneurship

Chapter

Entrepreneurial Planning

Question:

Transporting apples from orchards of Kashmir to markets of New Delhi results in:

Options:

Place utility

Time utility

Form utility

Object utility

Correct Answer:

Place utility

Explanation:

Place utilityFrom the place of production, transporting goods to the place of consumption results in place utility.

The transporting of apples from the orchards of Kashmir to the markets of New Delhi creates Place utility.

Place utility is the value that is added to a product by making it available to consumers in a convenient location. In this case, the apples are being transported from a remote location to a major market, which makes them more accessible to consumers in New Delhi. This makes the apples more valuable to consumers, as they can now enjoy fresh apples without having to travel to the orchards themselves.

The other options are not as appropriate:

  • Time utility is the value that is added to a product by making it available to consumers at a convenient time. In this case, the apples are not being transported in a way that significantly changes their freshness or availability to consumers.
  • Form utility is the value that is added to a product by changing its form or characteristics. In this case, the apples are not being processed or transformed in any way during transportation.
  • Object utility is the value that is inherent in a product itself, regardless of its location or form. In this case, the apples are already valuable because they are fresh and nutritious.