Tags » Marginal Utility

Understanding "utility" in Economics

In Economics, utility is an abstract concept that explains how consumers (both individuals and markets) hope to get the maximum satisfaction when dealing with scarcity of goods and services. 213 more words

Economic Theory

50 Shades of Marginal Utility

Marginal utility is an economics term that means the gain from the increase, or loss from a decrease in the consumption of that good or service.  565 more words

The Marginal utility of Love

The More,
I have of you,
The Less,
I want of you.

Is the US a Top Terrorist State? A Response to Noam Chomsky.

Noam Chomsky may pay lip service to anarchy, but he is a social democrat in favor of some form of statism, and when a statist attempts to designate certain states as “terroristic” they will inevitably fall into contradiction. 593 more words

Politics

Austrian Economics Part Three - Value

Matthew John Hayden

Scarcity is the inescapable frame in which human life resides. Our limited minds and bodies subject us to incomplete and halting control over the environment around us. 490 more words

Liberty

Austrian Economics Part Two - Scarcity

Matthew John Hayden

An Austrian method can show us the nature of our madness. We act to transfer from a present, less satisfying state to a future, more satisfying state. 1,239 more words

Economics (Austrian)