Fact checked by Ariel Courage Reviewed by Erika Rasure Key Takeaways Utility functions measure consumer preferences and ...

Sean Ross is a strategic adviser at 1031x.com, Investopedia contributor, and the founder and manager of Free Lances Ltd. Robert Kelly is managing director of XTS Energy LLC, and has more than three ...

James Chen, CMT is an expert trader, investment adviser, and global market strategist. Thomas J. Brock is a CFA and CPA with more than 20 years of experience in various areas including investing, ...

It is one of the basic principles taught to students studying economics. Introduced by Lord Alfred Marshall, it forms a crux in the micro-economic level often reflected in routine, day-to-day life.