5 Economics of Utilities (2)

Updated: 3/4/2021
5 Economics of Utilities (2)

Storyboard Text

  • Today we'll be discussing the 5 Economic Utilities
  • This is the factory where shoes are made
  • I came to the store for a pair of shoes
  • The 5 Economic UtilitiesSean-Dylan McDaniels
  • I needed these shoes for basketball
  • Form Utility- Changing raw materialsor putting parts togetherto make them moreusefulExample: Leather, Wood, and Rubber
  • Place Utility-Involves having a product wherecustomers can buy it.Example: Shoe Stores
  • Time Utility- Having a productavailable at a certaintime of year orconvenient time of dayExample: Sport Seasons
  • Possession Utility-The exchange of aproduct for moneyExample: Cash or Checks
  • Information Utility- Communication withthe consumerExample: Flyers or Advertisements