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TOTAL UTILITY: The total satisfaction of wants and needs obtained from the use or consumption of a good and service. This term should be contrasted with the related term marginal utility. Total utility is most often used in consumer demand theory to indicate how much overall satisfaction someone obtains from a given activity.

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INVISIBLE HAND

The notion that buyers and sellers, consumers and producers, households and businesses, by pursuing their own self-interests do what is best for the economy automatically without any government intervention, as if guided by an invisible hand.

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APLS

PINK FADFLY
[What's This?]

Today, you are likely to spend a great deal of time at a flea market looking to buy either a pair of handcrafted oven mitts or a coffee table shaped like the state of Florida. Be on the lookout for jovial bank tellers.
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This isn't me! What am I?

The wealthy industrialist, Andrew Carnegie, was once removed from a London tram because he lacked the money needed for the fare.
"It is the mark of an educated mind to be able to entertain a thought without accepting it."

-- Aristotle

JPUBE
Journal of Public Economics
A PEDestrian's Guide
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