Google
Tuesday 
March 5, 2024 

AmosWEB means Economics with a Touch of Whimsy!

AmosWEBWEB*pediaGLOSS*aramaECON*worldCLASS*portalQUIZ*tasticPED GuideXtra CrediteTutorA*PLS
K: The standard abbreviation for the quantity of capital goods, especially for the analysis of production. The letter "K" is used even though capital begins with a "C" because "C" is commonly used to represent consumption. The complementary representations for other inputs are "L" for labor and "N" for population.

Visit the GLOSS*arama

Most Viewed (Number) Visit the WEB*pedia

Lesson 9: Consumer Demand | Unit 3: Marginal Utility Page: 10 of 22

Topic: Incremental Satisfaction <=PAGE BACK | PAGE NEXT=>

  • While total utility is a handy measure, a more useful measure is marginal utility.

  • Marginal utility is the additional utility, or satisfaction of wants and needs, obtained from the consumption or use of an additional unit of a good or service.
  • Marginal utility is, in other words, the extra satisfaction achieved from an extra unit of good.
  • A handy formula:

    marginal utility = change in total utility
    change in quantity


Course Home | Lesson Menu | Page Back | Page Next

AUCTION

A formal market exchange in which prospective buyers make bids to purchase a commodity. An auction is an effective way of exchanging commodities by bringing together buyers and sellers. Auctions are commonly used to exchange financial instruments, agricultural commodities, personal assets, and works of art. Three notable types of auctions are English, Dutch, and sealed-bid.

Complete Entry | Visit the WEB*pedia


APLS

ORANGE REBELOON
[What's This?]

Today, you are likely to spend a great deal of time going from convenience store to convenience store seeking to buy either several magazines on fashion design or a package of 3 by 5 index cards, the ones without lines. Be on the lookout for crowded shopping malls.
Your Complete Scope

This isn't me! What am I?

One of the largest markets for gold in the United States is the manufacturing of class rings.
"All things are difficult before they are easy."

-- Thomas Fuller, Physician

X-M
Net Exports
A PEDestrian's Guide
Xtra Credit
Tell us what you think about AmosWEB. Like what you see? Have suggestions for improvements? Let us know. Click the User Feedback link.

User Feedback



| AmosWEB | WEB*pedia | GLOSS*arama | ECON*world | CLASS*portal | QUIZ*tastic | PED Guide | Xtra Credit | eTutor | A*PLS |
| About Us | Terms of Use | Privacy Statement |

Thanks for visiting AmosWEB
Copyright ©2000-2024 AmosWEB*LLC
Send comments or questions to: WebMaster