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PIARC (World Road Association), founded in 1909 and comprising 125 member governments from all over the world, is the global forum for exchange of knowledge and experience on roads, road transport policies and practices. With consultative status to the Economic and Social Council of the United Nations, the Association is contributing to a stable and sustainable global development of the road and transport sector.

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  4. Term of the Dictionary | satisfaction

Term of the Road Dictionary

satisfaction

  • Language : PIARC Road Dictionary / English
  • Theme : Financial and Legal Tools Finance and Procurement Economics and Finance
  • Definition : Interest on the part of an individual in possessing a good. Notes: 1. For a consumption schedule the terms ''satisfaction function'' and ''utility function'' are used indistinguishably. 2. The concepts of value, utility and satisfaction are very similar.

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