|
|
WILLINGNESS TO ACCEPT: The price or dollar amount that someone is willing to receive or accept to give up a good or service. Willingness to accept is the source of the supply price of a good. However, unlike supply price, in which sellers are on the spot of actually giving up a good to receive payment, willingness to accept does not require an actual exchange. This concept is important to benefit-cost analysis, welfare economics, and efficiency criteria, especially Kaldor-Hicks efficiency. A related concept is willingness to pay.
Visit the GLOSS*arama
|
|
|
|
|
UTILITY The satisfaction of wants and needs obtained from the use or consumption of goods and services. The terms utility and satisfaction are, for the most part, used interchangeably in economics. The concept of utility is integral to utility analysis, consumer demand theory, and the microeconomic analysis of consumer behavior and market demand.
Complete Entry | Visit the WEB*pedia |
|
|
ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius wanting to buy either a New York Yankees baseball cap or a solid oak entertainment center. Be on the lookout for pencil sharpeners with an attitude.
Your Complete Scope
This isn't me! What am I?
|
|
|
Parker Brothers, the folks who produce the Monopoly board game, prints more Monopoly money each year than real currency printed by the U.S. government.
|
|
|
"I can feel guilty about the past, apprehensive about the future, but only in the present can I act." -- Abraham Maslow, Psychologist
|
|
LIBOR
london Inter-Bank Offered Rate
|
|
|
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.
User Feedback
|
|
