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UTILITY MAXIMIZATION: The process or goal of obtaining the highest level of utility from the consumption or use of goods and services. This is based on the seemingly obvious presumption that people prefer more to less, which is intimately tied to the unlimited wants and needs aspect of scarcity. In other words, because people have unlimited wants and needs, because they always have unfulfilled wants or needs, satisfying these wants and needs is a desirable thing to do.
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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"We succeed in enterprises (that) demand the positive qualities we possess, but we excel in those (that) can also make use of our defects." -- Alexis de Tocqueville, Statesman
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MPP
Marginal Physical Product
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