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What Is the North Korean Won (KPW)?



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The North Korean Won is the official currency of North Korea. It is divided into 100 chon and is often abbreviated as KPW. The North Korean Won is not traded on international currency markets, but is instead pegged to the Chinese Yuan at a rate of 1 KPW to 0.72 CNY. Which currency is fully … Read more

What is cardinal utility?



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According to the theory of cardinal utility we can observe and quantify how satisfied a customer is with a product or service as well as the utility thereof. This is the basic principle on which the economic term of cardinal utility is founded. In this way, it could be said that cardinal utility serves to … Read more