Learn how utility functions derive demand functions and their role in maximizing consumer satisfaction and economic decision making.

From a practical standpoint, the august professors were talking about the value of that last dollar, the one at the top of a potentially very high stack that you might possess. And the function for ...

Learn how the marginal propensity to save (MPS) impacts economic decisions and calculations. Discover its role in Keynesian economics and how to calculate MPS effectively.

It is one of the basic principles taught to students studying economics. Introduced by Lord Alfred Marshall, it forms a crux in the micro-economic level often reflected in routine, day-to-day life.

You don't need to have studied economics to be familiar with the law of diminishing marginal utility and the idea of consumer surplus. The first has to do with the benefit consumers get from their ...

Contrary to understandings that treat ethical considerations and economic thinking as separate if not antagonistic issues, we advocate a holistic view that links business ethics to consequentialist ...