cumulative utility (english) - meaning, definition, translation, pronunciation

Part of Speech

• Noun Phrase

Phonetic Transcription

• /ˈkjuː.mjʊ.lə.tɪv juːˈtɪl.ɪ.ti/

Meaning and Usage

Cumulative utility refers to the overall satisfaction or pleasure derived from consuming a certain amount or type of goods or services over time. Essentially, it is related to the total benefit received from all previous consumption, contrasting with marginal utility, which focuses on the satisfaction gained from consuming one additional unit.

Frequency of Use: The term "cumulative utility" is more commonly used in written contexts, particularly in economics and finance literature. It may appear in academic discussions or analyses focused on consumer behavior and utility theory.

Example Sentences: 1. Cumulative utility is essential when assessing the long-term satisfaction of consumers as their consumption patterns evolve. - Translation: L'utilité cumulative est essentielle pour évaluer la satisfaction à long terme des consommateurs à mesure que leurs habitudes de consommation évoluent.

1. The concept of cumulative utility demonstrates how repeated experiences can influence a consumer's decision-making process.

2. Translation: Le concept d'utilité cumulative démontre comment les expériences répétées peuvent influencer le processus de décision d'un consommateur.

3. Analyzing cumulative utility can help businesses tailor their products to better meet customer needs over time.

4. Translation: L'analyse de l'utilité cumulative peut aider les entreprises à adapter leurs produits pour mieux répondre aux besoins des clients au fil du temps.

Idiomatic Expressions

While "cumulative utility" itself is not typically used in common idiomatic expressions, understanding its context can help illuminate related terms in the realm of economics and consumer behavior. Here are some relevant phrases:

1. Utility maximization:
2. It is crucial for firms to consider utility maximization when developing their pricing strategies.

3. Translation: Il est crucial pour les entreprises de prendre en compte la maximisation de l'utilité lors de l'élaboration de leurs stratégies de prix.

4. Diminishing marginal utility:

5. The law of diminishing marginal utility indicates that as more units of a good are consumed, the additional satisfaction gained decreases.

6. Translation: La loi de l'utilité marginale décroissante indique qu'à mesure que plus d'unités d'un bien sont consommées, la satisfaction supplémentaire obtenue diminue.

7. Consumer surplus:

8. Greater cumulative utility results in a significant consumer surplus, benefiting both consumers and producers.
9. Translation: Une utilité cumulative plus grande entraîne un surplus du consommateur significatif, bénéficiant à la fois aux consommateurs et aux producteurs.

Etymology

The term "cumulative" comes from the Latin "cumulare," meaning "to heap up," reflecting the idea of accumulation. "Utility" derives from the Latin "utilitas," meaning "usefulness," and relates to the satisfaction derived from goods or services. Together, the phrase indicates the accumulation of satisfaction over time from various consumptive activities.

Synonyms and Antonyms

Synonyms: - Total Satisfaction - Aggregate Utility - Overall Benefit

Antonyms: - Marginal Utility - Dissatisfaction - Utility Loss

This comprehensive overview provides insight into the significance of "cumulative utility" within the fields of economics and consumer behavior, as well as its broader language use and related concepts.