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The More Abstract a Word, the More Ambiguous It Will

question 130

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The more abstract a word, the more ambiguous it will be.


Definitions:

Price Ratio

The proportionate relationship between the prices of two goods or services, indicating how many units of one good can be exchanged for one unit of another.

Marginal Utility

The extra pleasure or benefit gained by a person from consuming one more unit of a product or service.

Total Utility

The overall satisfaction or utility that a consumer derives from consuming a certain quantity of goods or services.

Marginal Utility

The extra pleasure or benefit a consumer receives from using an additional unit of a product or service.

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