|
|
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.
Visit the GLOSS*arama
|
|
|
|
|
CHANGE IN QUANTITY SUPPLIED A movement along a given supply curve caused by a change in supply price. The only factor that can cause a change in quantity supplied is price. A related, but distinct, concept is a change in supply.
Complete Entry | Visit the WEB*pedia |
|
|
RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store trying to buy either a 50-foot blue garden hose or a turbo-powered vacuum cleaner. Be on the lookout for slightly overweight pizza delivery guys.
Your Complete Scope
This isn't me! What am I?
|
|
|
The average bank teller loses about $250 every year.
|
|
|
"Long-range goals keep you from being frustrated by short-term failures " -- J. C. Penney, Retailer
|
|
AOQL
Average Outgoing Quality Limit
|
|
|
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
|
|
