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SPECIAL INTEREST GROUP: A group that has more to gain or lose from some candidate, issue, or policy and thus tries extra hard to ensure that the political system is aware of their preferences. Some special interest groups can be fairly tame, merely voting in elections for their chosen candidate, while others are quite active. The more active ones form political action committees and undertake all forms of lobbying (legal and illegal). The ultimate success of special interest groups arises from the inclination of other people to choose rational ignorance and rational abstention.
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Lesson 9: Consumer Demand | Unit 2: Total Utility
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Page: 7 of 22
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Topic:
Total Utility Schedule
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- I talked Edgar Millbottom into spending the day at the beach recording the amount of total utility achieved at the end of each hour.
- The table presented here summarizes Edgar's hypothetical total utility numbers.
- The two columns presented in the table measure the quantity of time spent at the beach (in hours) and the total utility accumulated by Edgar at the end of each hour (in utils).
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SATISFACTION The process of successfully fulfilling wants and needs. This also goes by the technical economic term utility, and is essentially synonymous with more common words, such as fulfillment, well-being, and to some degree prosperity or happiness.
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
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"If anything terrifies me, I must try to conquer it. " -- Francis Charles Chichester, yachtsman, aviator
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CBOT
Chicago Board of Trade
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