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March 5, 2024 

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HORIZONTAL EQUITY: A system of taxes that treats equal people equally. In other words, if you make the same income as someone else and pay the same personal income taxes, then you have horizontal equity.

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CARDINAL UTILITY: A measure of utility, or satisfaction derived from the consumption of goods and services, that can be measured using an absolute scale. Cardinal utility exists if the utility derived from consumption is measurable in the same way that other physical characteristics--height and weight--are measured using a scale that is comparable between people. There is little or no evidence to suggest that such measurement is possible and is not even needed for modern consumer demand theory and indifference curve analysis. Cardinal utility, however, is often employed as a convenient teaching device for discussing such concepts as marginal utility and utility maximization.

     See also | utility | satisfaction | cardinal | second rule of subjectivity | indifference curve | consumer demand theory | ordinal | ordinal utility | quality of life | util | marginal utility | utility maximization |


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CARDINAL UTILITY, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2024. [Accessed: March 5, 2024].


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PLANT

The physical capital (building and equipment) at a particular location used for the production of goods and services. A plant, or factory, is usually a relatively large production operation (compared with something smaller, like a shop). While plant and firm are occasionally used synonymously, a given firm might own more than one plant and a given plant might be owned by more than one firm.

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Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors trying to buy either a birthday gift for your grandmother or a T-shirt commemorating yesterday. Be on the lookout for the happiest person in the room.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
"All things are difficult before they are easy."

-- Thomas Fuller, Physician

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