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VALUE IN USE: The satisfaction of wants and needs provided by the direct consumption of goods and services. Acquiring value from the use of goods and services is really the ultimate goal of economic activity. It is the final step in the production, allocation, and consumption activities that undertaken to address the fundamental problem of scarcity. Value in use should be contrasted with the similar phrase, value in exchange.
Visit the GLOSS*arama
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BROWN PRAGMATOX
Your compete MICRO*scope for today
You are the type of person who doesn't place a particularly high value on frivolous things, like matching socks. Family and friends have given up asking you out for lunch because you never pick up the check. Today, you are likely to spend a great deal of time searching the newspaper want ads wanting to buy either a case for your designer sunglasses or arch supports for your shoes. Be on the lookout for vindictive digital clocks with revenge on their minds. You should consider shopping at stores or businesses beginning with the letter P, but do not buy any products with a serial number or product code containing the number 543446. Your preferred shopping venue is thrift stores. Your special symbol is the comma (,).
Is this You?
As a Brown Pragmatox, you are down-to-earth and practical. You are hard working and industrious. You are frugal to the point that you might even refrain from making a purchase that you really, really need. Doing so often causes problems down the road. You definitely go with function over form and substance over style.
This isn't me! What am I?
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GOOD A physical, tangible item or product used to satisfy wants and needs. A good is produced using society's resources and represents a fundamental aspect of the economy. Limited resources are used to produced the goods that satisfy unlimited wants and needs in an ongoing effort to address the problem of scarcity.
Complete Entry | Visit the WEB*pedia |
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Laying The Groundrules On REGULATIONOur journey has brought us to the "Rs," which means, among other things, that my feet are trifle bit sore. Fortunately, we've also found ourselves at the front door of the Good Time Pharmacy. (Isn't coincidence wonderful?) My quick shopping trip for a pair of cushioned insoles, analgesic rub, and an ankle wrap is lengthened, however, by crossing paths with the normally quiet Stella von Steincamp. Stella, the pharmacist and proprietor of the Good Time Pharmacy, has taken the opportunity of our meeting to voice a rather vehement complaint over a new Shady Valley city government pharmaceutical regulation mandating the use of disposable rubber gloves when preparing and dispensing medicine. She is livid! Her primary complaint (among several) is that the cost of this regulation will send her pharmacy onto a short path into bankruptcy. In the interest of maintaining pharmaceutical services for the residents of Shady Valley, I think, would should explore this topic of government regulation.
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Visit the PEDestrian's Guide
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Cyrus McCormick not only invented the reaper for harvesting grain, he also invented the installment payment for selling his reaper.
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"Consult not your fears, but your hopes and your dreams. Think not about your frustrations, but about your unfulfilled potential. Concern yourself not with what you tried and failed in, but with what it is still possible for you to do. " -- Pope John XXIII
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MPC
Marginal Propensity to Consume
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