Why do we use words like “natural” in economics? Or what about the word “utility”? The answer can be traced all the way back ...

A utility function measures a consumer’s preference and satisfaction with different goods or services. As part of rational choice theory, it helps economists analyze how consumers make decisions to ...

George Monbiot wants to tell us all that coaches and public transport, bicycles, are much more efficient methods of transport than the private car, therefore to increase utility we should all be using ...