Economic value, Microeconomics

The monetary calculate of the welfare associated with the change in the provision of some good. It is not to be confused with monetary value, unless the latter is explicitly designed to evaluate the change in welfare, nor with financial value, which can reflect market value or an accounting convention. As Freeman (1993) notes, the terms ‘welfare change' and ‘economic value' can be used interchangeably

Posted Date: 8/23/2013 8:17:31 AM | Location : United States







Related Discussions:- Economic value, Assignment Help, Ask Question on Economic value, Get Answer, Expert's Help, Economic value Discussions

Write discussion on Economic value
Your posts are moderated
Related Questions

what is the theory of second best ? prove the theorem with the help of a diagram ?

explain the concept of producers'' equilibrium

Pollutant Any substance, species produced either by a natural source or by human activity, which produces very adverse effect on the environment is called pollutant. Some commo

Economic Reforms and Foreign Investment Inflows: A major objective of economic reforms was to increase foreign investment, which helps to increase capital formation of the eco

DETERMINATION OF FIXED EXCHANGE RATE: In the flexible exchange rate regime, exchange rates are highly volatile which leads to uncertainties in the international payments/trans

consumer surplus and elasticity of demand assumption of consumer surplus criticisms of consumer surplus consumer surplus in terms of indifference curves importance of the concept o

The main features of outward-oriented and inward-oriented development strategies. Inward- oriented as focus on reducing domestic reliance on imports by executing high barrier

Indirect Utility Functions: Let qi denotes commodity i and pi is the price of that commodity. Let y denotes money income of the consumer. Suppose vi = pi/y. The budget constra

Under capitalism, most production is undertaken by private companies (of various forms), with the goal of generating a profit to the company's owners. Profit is obtained when compa