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Necessity is the mother of invention. Necessity being incentive and invention being utility.
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∙ 9y ago
Anonymous
Incentives are the benefits offered to encourage people to act in a certain way, while utility is the satisfaction gained from the use of a good or service.
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What is the relationship between scarcity value utility and wealth?
Human Wants is common between utility, scarcity and transferability. If I am right then Ok if not then Please correct it with resons.M Fahad AnsariMs.c Economics
What is the relationship between marginal utility curve and demand curve?
both are equal and complement to each other
Explain difference between total and marginal utility. Define UTILITY. How do consumers maximize UTILITY?
explain the difference between total utility and marginal utility
What is the difference between equi-marginal utility and diminishing marginal utility?
What is the difference between equi-marginal utility and diminishing marginal utility?Read more:What_is_the_difference_between_equi-marginal_utility_and_diminishing_marginal_utility
What is the relationship between marginal utility and demand?
There is a close relationship between the marginal utility and price of a commodity.The additional satisfaction from the consumption of an additional unit of the commodity is called marginal utilty. Price means the value of the goods expressed in the terms of money.Price of all units of he same goods of consumption are more or less identical.It means that the consumer pays the same price for all the units of the same goods of consumption. But marginal utility of the goods of consumption start diminishing as the consumer increase the units of consumption of the commodity.Therefore the consumer will like to pay that price for the commodity,which is equal to the marginal utility he gets from the commodity.If the price of the commodity are higher than the marginal utility he derives from the commodity he will not like to purchase the commodity. In this way there is a clod\se relation between the marginal utility and the price of the commodity.
What is total utilitymarginal utility d low of diminishing marginal utility and draw the thoeretical mathematical diagramatically relationship between total and marginal utility?
23w
What is the relationship between scarcity value utility and wealth?
Human Wants is common between utility, scarcity and transferability. If I am right then Ok if not then Please correct it with resons.M Fahad AnsariMs.c Economics
Is there a relationship between job satisfaction and employee performance?
There is no relationship at all. I often find that employee performance exceeds all expectations when you provide them no incentive or reason to work.
Define the relationship between operating system software and utility software?
Operating system software .....OPERATES !! and utility software....UTILIZES !! ..now go do your research .
What is the relationship between marginal utility curve and demand curve?
both are equal and complement to each other
Explain difference between total and marginal utility. Define UTILITY. How do consumers maximize UTILITY?
explain the difference between total utility and marginal utility
Discuss in detail the relationship between utility and library program?
i like library's because you can read a lot to learn a lot
What is the difference between equi-marginal utility and diminishing marginal utility?
What is the difference between equi-marginal utility and diminishing marginal utility?Read more:What_is_the_difference_between_equi-marginal_utility_and_diminishing_marginal_utility
What is the relationship between marginal utility and demand?
There is a close relationship between the marginal utility and price of a commodity.The additional satisfaction from the consumption of an additional unit of the commodity is called marginal utilty. Price means the value of the goods expressed in the terms of money.Price of all units of he same goods of consumption are more or less identical.It means that the consumer pays the same price for all the units of the same goods of consumption. But marginal utility of the goods of consumption start diminishing as the consumer increase the units of consumption of the commodity.Therefore the consumer will like to pay that price for the commodity,which is equal to the marginal utility he gets from the commodity.If the price of the commodity are higher than the marginal utility he derives from the commodity he will not like to purchase the commodity. In this way there is a clod\se relation between the marginal utility and the price of the commodity.
Difference between computer and computer utility?
A Utility is a tool that's on the computer itself.
Definition of classical theory of production?
generally production in economics is the creation of utility. we can crate utility by three way, by changing time , by form and by changing place. theories which describe the relationship between input and output are known as theory of production.
Explain the relationship between total utility and marginal utility?
Total Utility can mean the total amount of satisfaction gained from the purchase or consumption of a product. Marginal Utility is the amount of satisfaction gained from purchasing or consuming more of the same product. For Example: If you purchased two slices of Pizza, Your total utility would be the satisfaction you receive from consuming both slices. Your marginal utility would be the satisfaction you gained consuming an additional slice (i.e. The difference between consuming two slices versus one slice) Typically your marginal utility decreases as your consumption increases. For Example: If you have eight pizzas, one extra slice is not likely to bring you as much satisfaction as a second slice would if you only had one slice of pizza (as opposed to eight pizzas).
