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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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Term of the Road Dictionary

utility

  • Language : PIARC Road Dictionary / English
  • Theme : Financial and Legal Tools Finance and Procurement Economics and Finance
  • Definition : Measure of the relative happiness or satisfaction gained by consuming different bundles of goods and services. Note: this concept can be more or less quantified in monetary terms and can be ultimately related with the concept of value.

Nutzwert

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