Examlex
Bolero is a private company founded by a consortium of the world's largest banks to provide secure "digital identities" or signatures for confidentiality and authentication of financial and legal documents.
Marginal Utility
The extra pleasure or benefit a consumer receives from using an additional unit of a product or service.
Maximizing Utility
The process by which individuals or consumers adjust their consumption of goods and services to achieve the highest level of satisfaction or utility.
Consumer Surplus
The difference between the maximum amount a person is willing to pay for a good and its current market price.
Law of Diminishing Marginal Utility
An economic principle stating that as consumption of a good or service increases, the marginal utility derived from each additional unit decreases.
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