Tags » Marginal Utility

Utility

Total utility (TU) is a total satisfaction from consuming all the units of a good. it is a main factor behind our willingness to pay for a good, given out outcome. 252 more words

Demand

Pikkety's Capital: 6

The Capital/Labor Split

This chapter is about α, the share of income from capital in total national income. As a quick refresher, capital is an accumulated stock of wealth, while income is a flow of wealth. 655 more words

Book Reviews

Marginal Utility Analysis

Marginal Utility Analysis

What is Utility - The quality of the goods or product, which satisfies human wants or need, is called utility. For example if a person is thirsty and he drinks water to quench his thirst. 603 more words

Starting off with some nerdy humour

First post, so do not want to make it too lengthy or complicated… Created this using Illustrator. Was having a rather slow day with nothing to do… Thanks to Joyonto Roy Chowdhury for the inspiration. :)

Diagram