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UTILITY ANALYSIS: A subset of consumer demand theory that analysis consumer behavior and market demand using total utility and marginal utility. The key principle of utility analysis is the law of diminishing marginal utility, which offers an explanation for the law of demand and the negative slope of the demand curve.
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FALLACY OF FALSE CAUSE The logical fallacy of arguing that two events have a causal connection because they are correlated (that is, happen at about the same time). In other words, one event is erroneously assumed to cause the other. This fallacy is the nemesis of the ongoing scientific pursuit to discover the laws of cause and effect.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"Only great minds can afford a simple style." -- Stendhal, writer
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IPUMS
Integrated Public Use Microdata Series
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