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Governments, Global Markets, and Utility

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Can money buy happiness?

What does the fundamental assumption of marginal utility theory suggest about the connection between money and happiness?

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Solution Summary

This solution provides a description of money, happiness, and the assumption of marginal utility theory.

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Introduction

Money and happiness contribute to the world's level of function, self-esteem and in some case their levels of independence. Money is defined as a currency that is made up of coins, notes, rare gems or metals. Currency was developed 1000s of years ago as a means for paying for goods, services and individuals that provide both a professional and non-professional work (Merriam-Webster-Money, 2013).

Happiness is defined as a state of mental or emotional well-being that stimulates from endorphins generated by one's body in reaction to positive action or thoughts. This can be created by levels of pleasure or contentment. Many situations, this is defined by the living styles of one's life or how they are flourishing in life (The Free Dictionary-Happiness, 2013).

Can Money Buy One's Happiness'?

If money can buy one his or her ...

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