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What are various concepts of utility?
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Why are the less developed countries more rigidly stratified and more unequal than the developed countries?
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What are the weaknesses of utilitarianism in economics?
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Give two instances of how the sum of individual happiness is not an indicator of overall happiness?
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What are indifference curves?
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What is the difference between total utility and marginal utility?
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Distinguish between the concept of cardinal utility and the concept of ordinal utility?
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According to Mishan what are two essential attributes of welfare criterion?
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Distinguish between use value and exchange value.
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What are the implications of debate on utilitarianism for improvement of society?
