As we all dool over the tasty paranthas.But do we know that why after eating some,we don't feel like eating more.This is because of marginal utility.
Marginal utility means when we first consume one parantha,we are much satisfied and happy,then if we consume the second parantha the satisfaction level decreases from the first one. And again if the thjrd parantha will be eaten,then the satisfaction level will be even more less.
Marginal utility is a very important concept in economics, as it helps in determining how much an item a consumer will buy.
Economics when applied to real life sounds beautiful. this blog is for those students who are discovering the different facets of economics applications and want to share their discoveries.
Friday, August 3, 2018
The concept of Marginal Utility with tasty Paranthas
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