Political economy

Bibliographic data

Monograph

Identifikator:: 867647221

URN:: urn:nbn:de:zbw-retromon-93157

Document type:: Monograph

Author:: Chapman, Sydney John http://d-nb.info/gnd/123743141

Title:: Political economy

Place of publication:: London [u.a.]

Publisher:: Williams & Norgate [u.a.]

Year of publication:: 1912

Scope:: 1 Online-Ressource (255 Seiten)

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

DEMAND 55 surplus got from a thing, regarded as a saving of a part of what would have been paid for the thing had the payment of its full value been unavoidable, is spent on other things and so becomes merged in real income, that is income not in money but in goods. And it is true, admittedly, that we must not thoughtlessly add up the surpluses got by an individual from different things and call the sum his total consumer’s surplus. Take away one article from a person and his demand for certain other articles will be increased, while his demand for certain other articles will be decreased. Some articles are so closely related in demand that their utilities are commingled—and in some degree the utilities of all things are com mingled. One thing helps to create the utility of another thing, as milk does that of tea ; in which case they are said to be complements. Again one thing undermines the utility of another thing, as tea does that of coffee—- without tea we should prize coffee more highly —in which case they are called substitutes. Nevertheless where it is possible to make due allowance for the actions and reactions of things on one another’s value and get at the aggregate consumer’s surplus with refer ence to some individual there would be a

Access restriction

Copyright

fullscreen: Political economy

Monograph

Table of contents

Download

Monograph

This page

Image fragment

Citation links

Citation recommendation