the law of diminishing marginal utility (lesson #1)

states that, ” Each successive unit of the same good consumed provides less additional, or marginal, satisfaction. the more you buy of an item, the less you want the next unit.”

my own practical application: no wonder why the longer you are married to each other, the lesser sex you get to do together.


    blogger’s note:

this is a “the things i learn OF life, i learn while reviewing for my CMA board exam.” series

i suck in Economics. i know. i know. the law of demand and supply is just something people understand almost immediately. but it would surprise you the things you think you know in college sounds so alien when you read about them ten years later.

and so to regain the lost, evaporated academic knowledge i turn to practical applicability. this is my twisted logic on the lessons i am reviewing.

and no, i do not know how i will fare in the exam. do not even ask me.


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