Economics Dictionary of ArgumentsHome
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| Marginal Utility - Economics Dictionary of Arguments | |||
| Marginal utility: Marginal utility measures the additional satisfaction or benefit gained from consuming one more unit of a product or service. As consumption increases, the marginal utility often decreases due to diminishing returns—each additional unit provides less additional satisfaction. This concept is fundamental in understanding consumer choices, preferences, and demand for goods or services. See also Utility, Benefit, Marginal return._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
| Author | Item | More concepts for author | |
|---|---|---|---|
| Neoclassical Economics | Marginal Utility | Neoclassical Economics | |
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Ed. Martin Schulz, access date 2024-04-19 | |||
