What is the Utility Theory? Total Utility and Marginal Utility explained

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What is the Utility Theory? Total Utility and Marginal Utility explained | A-level Economics

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Күн бұрын

A really interesting consumer behaviour theory is the Utility Theory that applies to many of us in real life!
How satisfied are you after consuming that favourite chocolate bar of yours after a long time? How about that same chocolate bar again? Then the 3rd and then the 4th time!? What happens to your utility after the 3rd time?
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Пікірлер: 14

@Dr.psych1 Жыл бұрын

i am the 300th subscriber nice work explained in depth thank you

@joshjoelz2081 Жыл бұрын

Thx so much, best explanation i have come across so far👍

@economeesta101withimraan3 Жыл бұрын

Thanks Josh!

@meenakshitomar5261 Жыл бұрын

Amazing explanation !! simple and easy to understand... kudos

@economeesta101withimraan3 Жыл бұрын

Thanks Meenakshi!

@musawenkosindwalane5692 4 ай бұрын

thank u. u alwaz make my teaching very easy

@KobbysKollection-oy6rw Жыл бұрын

Thanks

@rubyrosepagulayan18 Жыл бұрын

Thank you for the clear explanation sir.

@nandiphajojisa Жыл бұрын

This just helped me a lot

@lethabosaudi5979 Жыл бұрын

Thank you!

@noble.reclaimer Жыл бұрын

Legend

@doromamire 4 ай бұрын

I don't understand the marginal utility value theory at all. If the value of goods is determined by marginal utility, then the smaller the national output, the much larger the GDP of the country should be. If the output of goods is small, their supply is naturally limited. Then, according to the value theory of marginal utility, the value of the good would increase and, in extreme case, get to be almost as infinite as a glass of water in the desert. In reality, however, the opposite is true. The GDP of a country with a small national output is usually small as it is. Why does this happen?