Diminishing utility

Diminishing utility
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English-Arabic economic glossary.

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  • law of diminishing utility — a principle in social science: as one acquires successive units of a good, the intensity of desire for additional units declines …   Useful english dictionary

  • Diminishing returns — Economics …   Wikipedia

  • Utility — This article is about the economic concept. For other uses, see Utility (disambiguation). Part of a series on Utilitarianism …   Wikipedia

  • Utility frequency — The waveform of 230 volt, 50 Hz compared with 110 V, 60 Hz. The utility frequency, (power) line frequency (American English) or mains frequency (British English) is the frequency at which alternating current (ac, also AC) is transmitted from a… …   Wikipedia

  • utility — 1. The benefit, pleasure, or satisfaction obtained by consuming a product or service. See also *diminishing returns and *value. 2. The practical usefulness of an item. 3. An abbreviation for *public utility …   Auditor's dictionary

  • diminishing returns — 1. The notion that the incremental satisfaction derived from the consumption of a good or the use of a service decreases with each additional unit. For example, a smoker may derive a great deal of satisfaction, or *utility from the first… …   Auditor's dictionary

  • marginal utility — Econ. the extra utility or satisfaction derived by a consumer from the consumption of the last unit of a commodity. [1920 25] * * * In economics, the additional satisfaction or benefit (utility) that a consumer derives from buying an additional… …   Universalium

  • Marginal utility — In economics, the marginal utility of a good or service is the utility gained (or lost) from an increase (or decrease) in the consumption of that good or service. Economists sometimes speak of a law of diminishing marginal utility, meaning that… …   Wikipedia

  • Expected utility hypothesis — In economics, game theory, and decision theory the expected utility hypothesis is a theory of utility in which betting preferences of people with regard to uncertain outcomes (gambles) are represented by a function of the payouts (whether in… …   Wikipedia

  • Ordinal utility — theory states that while the utility of a particular good or service cannot be measured using a numerical scale bearing economic meaning in and of itself, pairs of alternative bundles (combinations) of goods can be ordered such that one is… …   Wikipedia

  • Cardinal utility — In economics, cardinal utility is a theory of utility under which the utility (roughly, satisfaction) gained from a particular good or service can be measured and that the magnitude of the measurement is meaningful. Under cardinal utility theory …   Wikipedia

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