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HEDONIC: Derived from the philosophy of hedonism (that happiness is the chief good in life), the notion that value is ultimately dependent on the satisfaction of wants and needs. The word hedonic is most often used together with the word price, as in hedonic price. This suggests the view that price is based on the satisfaction generated by consuming a good, regardless of the source of the satisfaction. This notion of hedonic is closely related to, and largely indistinguishable from, the more common concept of utility.
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SCARCITY A pervasive condition of human existence that results because society has unlimited wants and needs, but limited resources used for their satisfaction. This fundamental condition is the common thread that binds all of the topics studied in economics.
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The New York Stock Exchange was established by a group of investors in New York City in 1817 under a buttonwood tree at the end of a little road named Wall Street.
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"For a writer, published works are like fallen flowers, but the expected new work is like a calyx waiting to blossom." -- Cao Yu, Playwright
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ISMA
International Securities Market Association
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