Examlex
Meichenbaum's more recent work has been described as:
Utility
The satisfaction you derive from a good or service that you purchase. How much utility you derive is measured by how much you would be willing to pay.
Demand Schedule
A table or graph showing the quantity of a good or service that consumers are willing and able to purchase at various prices over a given period.
Marginal Utility
The extra pleasure a customer receives from using an additional unit of a product or service.
Consumer Surplus
The discrepancy between the amount consumers are prepared to pay for a product or service and the actual price they pay.
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