Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Erika Rasure is globally-recognized as a leading consumer economics subject ...

It is one of the basic principles taught to students studying economics. Introduced by Lord Alfred Marshall, it forms a crux in the micro-economic level often reflected in routine, day-to-day life.

Numerous factors can influence the utility a consumer derives from a good or service: Personal Preferences: Individual tastes ...

Years ago I got my MBA. In the process, I took several economics courses. Somewhere in one of them, I was exposed to the theory of marginal utility. Basically, the marginal utility of something is the ...

Contrary to understandings that treat ethical considerations and economic thinking as separate if not antagonistic issues, we advocate a holistic view that links business ethics to consequentialist ...