Distinguish between:Place utility and Time utility

Answer»

Place utility	Time utility
It is the utility derived from the change in the place of utilisation.	It is the utility derived from the change in the time of utilisation.
It increases with the change in the place of utilisation.	It increases with the change in the time of utilisation.
It is created when a good is transferred from the place of production to the place of consumption.	It is created by storing goods so that they can be used when the demand arises.

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