“Again, most of the chief distinctions marked by economic terms are differences not of kind but of degree.” KindTermDifferencesEconomicDegreesChiefsDistinction Book:Principles of Economics Source: Principles of Economics
“I admit that these terms and the diagrams connected with them repel some readers, and fill others with the vain imagination that they have mastered difficult economics problems, when really they have done little more than learn the language in which parts of those problems can be expressed, and the machinery by which they can be handled. When the actual conditions of particular problems have not been studied, such knowledge is little better than a derrick for sinking oil-wells erected where there are no oil-bearing strata.” WellsLittlesDoneProblemLanguageDifficultTermImaginationConditionsParticularReaderEconomicsConnectedOilVainMachinerySinkingDiagrams Author:Alfred Marshall
“In the absence of any short term in common use to represent all desirable things, or things that satisfy human wants, we may use the term Goods for that purpose.” WantHumansMayUsePurposeTermCommonAbsenceGoodsDesirableShort Term Book:Principles of Economics: Unabridged Eighth Edition Source: Principles of Economics: Unabridged Eighth Edition
