The proposition that consumers are the best judges of their own interest, determining consumption patterns in the market.
The excess benefit a consumer gains from purchasing a good over the amount paid for the good.
An entry that explains the concept of consumerism, focusing on its economic implications and frameworks.
The final use of goods and services by economic agents to satisfy their needs, as opposed to providing for future production.
An externality affecting the utility level of one or more individuals due to another's consumption.
A function showing how the consumption of an individual or a country as a whole is determined.
An entry explaining the term 'consumption goods' within the context of economics
An economic model illustrating the combinations of goods and services that a consumer can purchase given their budget constraint.
Dictionary entry defining contagion in the context of economics and financial markets
A structural term in the futures market where the futures price of a commodity is higher than its spot price.
Understanding the concept of contemporaneous correlation and its significance in economics.
A detailed exposition on the concept of a contestable market in economics, examining entry barriers, market conditions, and real-world implications.
