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What is equi-marginal utility?
This Theory was propounded by H.H Gossen and called Gossen second law and developed by Alfred Marshall and all the credit is given to Alfred Marshall. This theory states that a retoinal consumer spend his total budget between among the goods he will derived the satisfaction from the additional goods.
What groups of players make all of the economic in a free market system?
The consumers make all decisions in a free market economy
What groups of players make all the economic decisioins in a free-market system?
The consumers make all decisions in a free market economy
What did Bill Gates do all his life?
Make Microsoft!
Why do people make counterfeit money?
Because people want to make money without all the responsibility.
Did Alfred nobel go to university?
Yes, Alfred Nobel attended the Royal Institute of Technology in Stockholm for chemical engineering training, but he did not attend a traditional university.
Who created the novel peace prize?
The Nobel Peace Prize was created by the inventor and industrialist Alfred Nobel, the founder of the Nobel Prizes. It was established in his will in 1895 and first awarded in 1901.
Was Alfred Nobel poor?
He had earned a lot of money from his invention of Dynamite, but when he found out that it was being used for military purposes he gave all the money he had earned to create the Nobel Prize organization.
How come the Nobel prize was invented?
Alfred B Nobel the inventor of dynamite was a bachelor , so when he died he put all his money in atrust , and the prizes are given from the intrest on the money invested.
Alfred Nobel Mark Twain Ernest Hemingway and Marcus Garvey had what in common?
The all read their own obituary in the newspaper.
Who started the Nobel Peace Prize?
Martin Luther King Jnr was the winner of the 1964 Nobel Peace Prize. At the time of winning it, he was the youngest person to be awarded the honour.
What were all the inventions of Alfred Nobel?
Dynamite, ballisite, blasting cap and the Nobel Prize.
Who are two famous people from Sweden?
Astrid Lindgren, an author. Alfred Nobel, the starter of the Nobel price. Carl von Linné (1707-1778) who founded modern taxonomy of all living beings. Without Linné there probably wouldn't be a Darwin.
Is Alfred Nobel a peacful man?
Alfred Nobel was a Swedish inventor and industrialist known for inventing dynamite and for establishing the Nobel Prizes. While he garnered wealth from his inventions, he also felt guilt over their potential for harm in warfare. He later dedicated his wealth to instituting the Nobel Prizes to promote peace and progress in various fields.
What is the meaning of to make a fortune?
To make what one considers a large amount of money. To Bill Gates a fortune is a multitude of billions, to another person it may be millions. Its all relative to your expectations.
Are all gypsies fortune tellers?
No, not all gypsies are fortune tellers nor are all fortune tellers gypsies.
Who established nobel prizes?
Alfred NobelAlfred Nobel was born on October 21, 1833 in Stockholm, Sweden. In 1842, when Alfred was nine years old, his mother (Andrietta Ahlsell) and brothers (Robert and Ludvig) moved to St. Petersburg, Russia to join Alfred's father (Immanuel), who had moved there five years earlier. The following year, Alfred's younger brother, Emil, was born.Immanuel Nobel, an architect, builder, and inventor, opened a machineshop in St. Petersburg and was soon very successful with contracts from the Russian government to build defense weapons.Because of his father's success, Alfred was tutored at home until the age of 16. Yet, many consider Alfred Nobel a mostly self-educated man. Besides being a trained chemist, Alfred was an avid reader of literature and was fluent in English, German, French, Swedish, and Russian.Alfred also spent two years traveling. He spent much of this time working in a laboratory in Paris, but also traveled to the United States. Upon his return, Alfred worked in his father's factory. He worked there until his father went bankrupt in 1859.Alfred soon began experimenting with nitroglycerine, creating his first explosions in early summer 1862. In only a year (October 1863), Alfred received a Swedish patent for his percussion detonator - the "Nobel lighter."Having moved back to Sweden to help his father with an invention, Alfred established a small factory at Helenborg near Stockholm to manufacture nitroglycerine. Unfortunately, nitroglycerine is a very difficult and dangerous material to handle. In 1864, Alfred's factory blew up - killing several people, including Alfred's younger brother, Emil.The explosion did not slow down Alfred, and within only a month, he organized other factories to manufacture nitroglycerine.In 1867, Alfred invented a new and safer-to-handle explosive - dynamite.Though Alfred became famous for his invention of dynamite, many people did not intimately know Alfred Nobel. He was a quiet man who did not like a lot of pretense or show. He had very few friends and never married.And though he recognized the destructive power of dynamite, Alfred believed it was a harbinger of peace. Alfred told Bertha von Suttner, an advocate for world peace,My factories may make an end of war sooner than your congresses. The day when two army corps can annihilate each other in one second, all civilized nations, it is to be hoped, will recoil from war and discharge their troops.*Unfortunately, Alfred did not see peace in his time. Alfred Nobel, chemist and inventor, died alone on December 10, 1896 after suffering a cerebral hemorrhage.After several funeral services were held and Alfred Nobel's body was cremated, the will was opened. Everyone was shocked.The WillAlfred Nobel had written several wills during his lifetime, but the last one was dated November 27, 1895 - a little over a year before he died.Nobel's last will left approximately 94 percent of his worth to the establishment of five prizes (physics, chemistry, physiology or medicine, literature, and peace) to "those who, during the preceding year, shall have conferred the greatest benefit on mankind."Though Nobel had proposed a very grandiose plan for the prizes in his will, there were a great many problems with the will.Relatives of Alfred Nobel were so shocked that many wanted the will contested.The format of the will had formal defects which could have caused the will to be contested in France.It was unclear which country Alfred had his legal residence. He was a Swedish citizen until age nine, but after that he had lived in Russia, France, and Italy without becoming a citizen. Nobel had been making plans for a final home for himself in Sweden when he died. The location of residency would determine what country's laws would govern the will and the estate. If determined to be France, the will could have been contested and French taxes would have been taken.Because Nobel had wanted the Norwegian Storting (parliament) to choose the peace prize winner, many charged Nobel with a lack of patriotism.The "fund" that was to implement the prizes did not yet exist and would have to be created.The organizations that Nobel named in his will to award the prizes had not been asked to take on these duties prior to Nobel's death. Also, there was no plan to compensate these organizations for their work on the prizes.The will did not state what should be done if no prize winners for a year were found.
