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LEARNING: A person's changes in thinking and behavior due to environmental experiences. A consumer learns about products and services based on information input and subsequent adjustments in buying patterns. This is important in the promotion element of the marketing mix. Typically a potential customer requires 6 exposures to a product name in order to develop retention (learning).

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TOTAL UTILITY CURVE

A curve illustrating the relation between the total utility obtained from consuming a good and the quantity of the good consumed. The shape of the total utility curve, increasing at a decreasing rate, reflects the law of diminishing marginal utility. The reason for this is that slope of the total utility curve is marginal utility, meaning the total utility curve can be use to derive the marginal utility curve.

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RED AGGRESSERINE
[What's This?]

Today, you are likely to spend a great deal of time at a garage sale trying to buy either looseleaf notebook paper or a three-hole paper punch. Be on the lookout for deranged pelicans.
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This isn't me! What am I?

Ragnar Frisch and Jan Tinbergen were the 1st Nobel Prize winners in Economics in 1969.
"You are younger today than you will ever be again. Make use of it for the sake of tomorrow. "

-- Norman Cousins, editor

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National Association of Business Brokers
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