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FINANCIAL ASSET: A legal claim to or ownership of a physical asset. Common financial assets are stocks, bonds, money, and government securities. These are also termed paper assets.
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CONSTRAINED UTILITY MAXIMIZATION The process of obtaining the highest possible level of utility from the consumption of goods or services, under given restrictions, when the highest overall level of utility cannot be reached. The notion of constrained utility maximization is a modification of the more general utility maximization assumption. It is based on the recognition that consumers might be restricted from achieving the absolute maximum level of utility. The primary restrictions tend to be the amount of income available relative to price paid. Constrained utility maximization generally does reach the peak of the total utility curve.
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WHITE GULLIBON
[What's This?]
Today, you are likely to spend a great deal of time at a flea market trying to buy either software that won't crash your computer or any book written by Stephan King. Be on the lookout for telephone calls from long-lost relatives.
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The first U.S. fire insurance company was established by Benjamin Franklin in 1752 in Philadelphia.
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"Failure is the opportunity to begin again, more intelligently. " -- Henry Ford, automobile manufacturer
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IO
Industrial Organization
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