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HEDONIC: Derived from the philosophy of hedonism (that happiness is the chief good in life), the notion that value is ultimately dependent on the satisfaction of wants and needs. The word hedonic is most often used together with the word price, as in hedonic price. This suggests the view that price is based on the satisfaction generated by consuming a good, regardless of the source of the satisfaction. This notion of hedonic is closely related to, and largely indistinguishable from, the more common concept of utility.
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FINAL GOOD: A good (or service) that is available for purchase by the ultimate or intended user with no plans for further physical transformation or as an input in the production of other goods that will be resold. Gross domestic product seeks to measure the market value of final goods. Final goods are purchased through product markets by the four basic macroeconomic sectors (household, business, government, and foreign) as consumption expenditures, investment expenditures, government purchases, and exports. Final goods, which are closely related to the term current production, should be contrasted with intermediate goods--goods (and services) that will be further processed before reaching their ultimate user. See also | good | intermediate good | gross domestic product | household sector | business sector | government sector | foreign sector | aggregate expenditures | consumption expenditures | investment expenditures | government purchases | net exports |
Recommended Citation:FINAL GOOD, AmosWEB GLOSS*arama, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: March 21, 2025].
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ALLOCATION EFFECT A change in the allocation of resources caused by placing taxes on economic activity. By creating disincentives to produce, consume, or exchange, taxes generally alter resource allocations. The allocation effect is typically used when governments seek to discourage the production, consumption, or exchange of particular goods or activities that are deemed undesirable (such as tobacco use or pollution). This is one of two effects of taxation. The other (primary) is the revenue effect, which is the generation of revenue used to finance government operations.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time strolling through a department store seeking to buy either a how-to book on wine tasting or a bookshelf that will fit in your closet. Be on the lookout for bottles of barbeque sauce that act TOO innocent.
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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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"When the solution is simple, God is answering." -- Albert Einstein
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AACP
American Assocation of Commercial Publications
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