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<p>[QUOTE=&quot;medoraman, post: 1129131, member: 26302&quot;]I have to disagree Fatima. Your original post, while good, did not include time and place utility. Time and place utility usually adds more value to the consumer than creating the items to begin with. Your original list was the commonly held view for many centuries, but it missed time and place utility.</p><p><br /></p><p>Simple example, consumers are at a ballgame. They are hungry and thirsty, but to go somewhere else to eat and drink would ential them missing the game. They will willingly, (well maybe begrudgingly), pay $4 for a soda and $6 for a hotdog, even though they will pass 20 places on the way to and from the ballpark that would sell them these things for $1 each. The hotdog &quot;value&quot; is maybe 80 cents, that is the value you would assign it based upon its creation.&nbsp; The vendor at the ballpark created over $5 time and place value by being able to sell them to the consumer where the consumer wanted, when he wanted it. </p><p><br /></p><p>Other examples are similar, like gas being 20 cents higher in the country than a large city. This is due to extra costs involved in getting it there but people are willing to buy locally and not have to drive 2 hours to get cheaper gas.[/QUOTE]</p><p><br /></p>

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