Search Header Logo
Economics Year 1 - pre mock

Economics Year 1 - pre mock

Assessment

Presentation

Social Studies

11th - 12th Grade

Hard

Created by

Sabrina Schmidt

FREE Resource

3 Slides • 1 Question

1

Economics Year 1 - pre mock

by Sabrina Schmidt

2

​Marginal utility

  • ​Marginal utility is the added satisfaction a consumer gets from having one more unit of a good or service.

  • The concept of marginal utility is used by economists to determine how much of an item consumers are willing to purchase.

  • Marginal utility can be positive, zero, or negative

>> Positive marginal utility occurs when the consumption of an additional item increases the total utility. Negative marginal utility occurs when the consumption of one more unit decreases the overall utility.

3

Multiple Select

Marginal utility is

1

the additional satisfaction

2

the extra satisfaction when consuming a product

3

the decrease in satisfaction when consuming

4

the increase in satisfaction when consuming less

4

Economics Year 1 - pre mock

by Sabrina Schmidt

Show answer

Auto Play

Slide 1 / 4

SLIDE