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This page compares the properties of several typical utility functions of divisible goods. These functions are commonly used as examples in consumer theory . The functions are ordinal utility functions, which means that their properties are invariant under positive monotone transformation .
Available for sale (AFS) is an accounting term used to classify financial assets. AFS is one of the three general classifications, along with held for trading and held to maturity, under U.S. Generally Accepted Accounting Principles (US GAAP), specifically FAS 115. The IFRS also includes a fourth classification: loans and receivables.
Psychology Today content and its therapist directory are found in 20 countries worldwide. [3] Psychology Today's therapist directory is the most widely used [4] and allows users to sort therapists by location, insurance, types of therapy, price, and other characteristics. It also has a Spanish-language website.
The definition of money says it is money only "in a particular country or socio-economic context". In general, communities only use a single measure of value, which can be identified in the prices of goods listed for sale. There might be multiple media of exchange, which can be observed by what is given to purchase goods ("medium of exchange ...
Positional goods are goods valued only by how they are distributed among the population, not by how many of them there are available in total (as would be the case with other consumer goods). The source of greater worth of positional goods is their desirability as a status symbol , which usually results in them greatly exceeding the value of ...
An equivalent definition is: for any sets of items and , + = + (). An additive utility function is characteristic of independent goods. For example, an apple and a hat are considered independent: the utility a person receives from having an apple is the same whether or not he has a hat, and vice versa.
Public goods will generally be underproduced and undersupplied in the absence of government subsidies, relative to a socially optimal level. This is because potential producers will not be able to realize a profit (since the good can be obtained for free) sufficient to justify the costs of production.
For Polanyi, the effort by classical and neoclassical economics to make society subject to the free market was a utopian project and, as Polanyi scholars Fred Block and Margaret Somers claim, "When these public goods and social necessities (what Polanyi calls "fictitious commodities") are treated as if they are commodities produced for sale on the market, rather than protected rights, our ...