Satisfaction, the diminishing scale (_Sättigungscala_), 27; Appendix I., 87. Scarcity, 10, 11, 16, 40. Schäffle’s objection, 36. Subjective exchange value, 47; money the typical example, 50. Supply and Demand, relation of the Austrian law to the law of, 65, 84. Sydney Smith, 2, 3. Useful and valuable, the distinction emerging, 11. Utility, 8, 12; the supreme principle, 13, 14, 24; marginal, 29; the foreign, 39. Value, looseness of the term, 1; in use and in exchange, 2; not an inherent property, 3; always a relation, 5; subjective and objective, 5; depends entirely on utility, 8; analysis of common usage, 9; the common element, 10; difference from utility, 11, 12; attaches to a felt condition, 14; the centre within us, 16; a relation of dependence, 17; scale of, 18; Adam Smith’s scale, 20; where nearly true, 24; the true scale, 26; determined by marginal utility, 32; paradox of, 34; necessity of defining what one is valuing, 35; capitalised, 37; the lowest use, 37; the foreign utility, 39; of complementary goods, 42; subjective exchange, 47; transition to objective, 52; and price, 55; price based on subjective valuations, 61; supply and demand, 65; cost of production, 67; from the past or the future of goods, 67; the conduction of, 70; shown by silver, 72; conducted from marginal products to cost, 74; and from cost to product, 78, 84; the fundamental law, 84. Walker, 4. Wants, a demand for satisfaction, 15; classification of, 19; scale of, 20. Wieser, 13, 28, 32, 45, 46, 47, 51, 62, 87. GLASGOW: PRINTED AT THE UNIVERSITY PRESS BY ROBERT MACLEHOSE AND CO. LTD.