Preview

Title

Satisfactory Essays
Open Document
Open Document
252 Words
Grammar
Grammar
Plagiarism
Plagiarism
Writing
Writing
Score
Score
Title
Assignment 5
For Critical Analysis – Pg. 542 1. Why would evidence of inconsistency of measured happiness levels for a single individual cast considerable doubt on the appropriateness of comparing happiness levels across individuals?

Economists are not convinced measured happiness levels actually tell anything about how to rate a single individual’s satisfaction. Happiness levels vary due to differing factors including income, relationship status, age, residence and employment status. No two individuals are composed of the same factors and thus, comparing happiness levels across a population would not produce appropriate results. Patterns of happiness may be consistent across individuals with similar backgrounds; however, everyone defines happiness differently and places value on varying factors such as life experiences, friendship and social status. In addition, another factor influencing happiness levels is whether or not an individual has the tools to pursue and fulfill an objective or achievement. In order for happiness levels to accurately be compared between individuals, there would need to be common ground. Common background and opportunities would have to be consistent between all people.

2. Why is the utility theory applied to consumer choice theory silent about comparing people’s utility levels?

The utility theory is silent because utility levels cannot be compared. The utility level of any person can be multiplied by any number without personal preferences changing; therefore, the utilities of different people cannot be compared. One person does not have a higher or lower level than someone else. Utility levels are only capable of measuring preferences of a particular

You May Also Find These Documents Helpful

  • Satisfactory Essays

    Title

    • 309 Words
    • 2 Pages

    1. What is the application ZenMap GUI typically used for? Describe a scenario in which you would use this type of application. / Scanning all domains within the local domain. / If I was a financial accountant, I would use this to see what my employees are accessing and who is doing what on the company internet. I would like to find out who is compromising their privileges and accessing inappropriate sites.…

    • 309 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    EMA 23 5 14

    • 1317 Words
    • 4 Pages

    White, A. (2006) “University of Leicester produces the first ever world map of happiness” [Online]. Available at http://www.le.ac.uk/ebulletin-archive/ ebulletin/news/press-releases/2000-2009/2006/07/nparticle.2006-07-28.html (Accessed 24 April 2014).…

    • 1317 Words
    • 4 Pages
    Powerful Essays
  • Satisfactory Essays

    Title

    • 436 Words
    • 2 Pages

    When I read the short story the prince about S. Leon Kleinman who every two months would call in sick at his job and go to museums and just have a his own little day off. I thought what the heck is this guy doing and how is he getting away with this but threw out the whole of this short story I thought he was very crafty and had a good thing going. Mr. Kleinman worked at an office type job and dreaded working there and thought that all the people were stupid and he hated them so he did it to have his little private time but this little scheme finally game to an end when his boss Mr. Graham found out that he was skipping and called him to his office to see what was the deal and so kleinman came in and they started talking and his boss was asking him questions and kleinman was admiring his painting and Mr. graham saw this and he saw that he had a creative side when he was making statements like to own a prince painting one must be a prince and then the boss Mr. graham offered him a promotion for having such an understanding and love for art. The ending of the story I have to admit I was not expecting that he would get a promotion out of all the things I thought he would maybe get fired and it was kind of ironic because he skipped work and it got him promoted and it spoke on the kind of person he was and all this proved that you can beat the system if you plan it right just like how you saw in this short story and he did all this to do what he loved which was art which…

    • 436 Words
    • 2 Pages
    Satisfactory Essays
  • Good Essays

    Lyubomirsky talks about how as there is no real appropriate happiness thermometer exists to measure the degree to which someone is happy or unhappy person , researchers generally have to rely on self-reports, and how in her research with human participants she has used 4 term measure of overall happiness that she calls the subjective happiness scale. The article has an subjective scale sheet/test.…

    • 674 Words
    • 3 Pages
    Good Essays
  • Good Essays

    Title

    • 681 Words
    • 4 Pages

    Talking when it is appropriate as well as being quiet and respectful when others are presenting.…

    • 681 Words
    • 4 Pages
    Good Essays
  • Satisfactory Essays

    Title

    • 353 Words
    • 2 Pages

    Example of Technical ceramic: gas burner nozzles, ballistic protection, nuclear fuel uranium oxide pellets, biomedical implants, coatings of jet engine and turbine blades.…

    • 353 Words
    • 2 Pages
    Satisfactory Essays
  • Powerful Essays

    Chapter 3 Questions

    • 1404 Words
    • 5 Pages

    3. Since happiness is extremely subjective, how would you objectively measure and assess happiness? Do you agree with J.S. Mill that arithmetic can be used to calculate happiness? Is money a good proxy for happiness?…

    • 1404 Words
    • 5 Pages
    Powerful Essays
  • Good Essays

    title

    • 566 Words
    • 2 Pages

    People fear change. People fear persecution. In the play The Crucible fear is used ridiculously to persecute the innocent and save ones self. Salem, a puritan community, had god and religion as its number one priority. Therefore the devil was the people of Salem's greatest fear. In he United States during the cold war, people feared communism. Here came the creation of McCarthyism, this is almost identical to the events of Salem, people were accused in the United States of being communist sympathizers, usually without much evidence, and people were persecuted. Arthur miller himself was accused of being a communist supporter and charged after his writing of The Crucible. Even more recently terrorism is the world's greatest fear, and therefore people are persecuted, not in a court of law but in society. These people are discriminated against due to race or culture without any evidence that they are terrorists or murderers. This strongly links to the major themes in the play.…

    • 566 Words
    • 2 Pages
    Good Essays
  • Satisfactory Essays

    Title

    • 537 Words
    • 3 Pages

    demonstrate your understanding of HRM ideas by being able to show how they are relevant and useful to a particular example. This part of the TMA is worth 30 marks. Part (d) The final part of the TMA asks you to perform a simple web-based information search about the concept you have chosen and to present information succinctly. You need to include the URLs, the date the websites were accessed and why you chose them, and also state how trustworthy this information is to gain the full 5 marks available. 3.4 TMA 02 Part II Part II of TMA 02 is worth the other 10 marks (the TMA is marked out of a total of 100). The first 5 marks are based on your tutor’s monitoring of your contributions to the TGF discussions associated with B120 Book 2. Your tutor will introduce these at the appropriate time. We expect you to participate in all TGF discussions for Book 2. If your tutor does not feel you have participated in at least two of these, the 5 marks will be lost. The second 5 marks for Part II are based on another piece of work which will be a short report you will submit in the same file as Part 1 of the TMA, at the end. This will be a brief summary of one of the TGF discussions relating to Book 2 and what you have learned from it. It should not be any longer than 200 words. Remember that you must submit this short report at the end of your TMA through the eTMA system.…

    • 537 Words
    • 3 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Title

    • 585 Words
    • 3 Pages

    Ndndnndndnnsjdkdjdbdbjdksj didn't snobs ask s skamdnalana did a si sjsbdbs. Did she DBMS djd dbjd dkd Debbie dd dbndnd djd bad DNS fj skid DNS ndksknsnjdn dn d dnd dn DVD JV k j j j j jk j j. K kk k. K K k Bdksnjsjsnbsjs…

    • 585 Words
    • 3 Pages
    Satisfactory Essays
  • Good Essays

    If you have a chance to choose a life, what will you choose? The rich but unhappy life or the ordinary life with lifelong happiness? Most people will choose the latter, because it is the essence of the life. The pursuit of individual happiness is being acknowledged as a world right. People often assume that happiness is an individual thing, but the meaning of happiness shifts across the life course. Therefore, happiness contributes to the harmonious society because it has a positive impact on social life and commercial development.…

    • 859 Words
    • 4 Pages
    Good Essays
  • Powerful Essays

    Easterlin, R. A. (2004). "The Economics of Happiness" Daedalus, 2004, 133, Issue 2 - on happiness, 26 - 33. Retrieved February 22, 2010 from: http://www-rcf.usc.edu/~easterl/papers/Happiness.pdf…

    • 1413 Words
    • 6 Pages
    Powerful Essays
  • Satisfactory Essays

    A consumer’s utility is very difficult to measure. This though can be determined indirectly with studying consumer behavior theories. They assume that consumers will try to maximize their utility.…

    • 365 Words
    • 2 Pages
    Satisfactory Essays
  • Satisfactory Essays

    Utility is defined as the satisfaction or pleasure which a consumer obtains from obtaining and consuming a good or service.…

    • 1243 Words
    • 5 Pages
    Satisfactory Essays
  • Powerful Essays

    The cardinalist approach considers utility as being measurable in monetary terms by the amount of money the consumer is willing to sacrifice for another unit of the commodity or in subjective units called utils and can be assigned a value eg. 10, 20, 30. The ordinalists say that utility is not measurable,…

    • 2449 Words
    • 10 Pages
    Powerful Essays