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demography (Jl)<br />The study of the size and composition of human populations, particularly their births, deaths and migration. Both historical recording and projections of future populations are calculated to provide the basis for economic and social planning.<br /><em>See also:</em> population census; Malthus; Petty <br /><em>Reference</em><br />Pressat, R. (1972) Demographic Analysis. Methods, Results, Applications, London: Edward Arnold; Chicago: Aldine Atherton.
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marginal utility (DO)<br />The amount of satisfaction obtained from consumption of the last unit of a good or service. Although there were hints of such an analytical tool in economics before 1870, particularly in BENTHAM's writings, it was the MARGINALISTS who were first to make extensive use of the concept, employing differential calculus. The LAW oF DIMINISHING MARGINAL UTILI1Y was enunciated simultaneously.<br /><em>See also:</em> cardinal utility; util; utility
sole proprietor (L2)<br />A person who is both the sole owner and manager of a firm, receiving all its posttax profits and entirely responsible for its liabilities. The growth of SELF-EMPLOYMENT is some indication of the increasing popularity of this form of enterprise.<br /><em>See also:</em> partnership; small firm
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