The Law Of Diminishing Marginal Utility
This economic principle states that as a person consumes more of a good or service, the additional satisfaction (utility) from each additional unit decreases.
136
1.93K reads
CURATED FROM
IDEAS CURATED BY
As an avid freakonmics listener, I decided to compile a list of my own personal favorite economic facts and.
“
Similar ideas to The Law Of Diminishing Marginal Utility
Marginal Benefit vs. Marginal Cost
Marginal benefit and marginal cost are two measures of how the cost or value of a product changes.
- The marginal benefit is a measurement from the consumer side. It is the maximum amount of money a consumer is willing to pay for an additional good or ...
Marginal Benefit
A marginal benefit change in a consumer's advantage if they use an additional unit of a good or service.
A marginal benefit usually declines as consumption increases. For example, the consumer may buy one ring for $100, but only willing to buy another if the second rin...
The Law of Diminishing Intent
It states that the longer you postpone taking action, the less likely you will be to take it.
Jim Rohn originally noticed this phenomenon and coined the term.
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Personalized microlearning
—
100+ Learning Journeys
—
Access to 200,000+ ideas
—
Access to the mobile app
—
Unlimited idea saving
—
—
Unlimited history
—
—
Unlimited listening to ideas
—
—
Downloading & offline access
—
—
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates