Discover the concept of utility in microeconomics, exploring its origins, types, and applications to analyze consumer ...

It is one of the basic principles taught to students studying economics. Introduced by Lord Alfred Marshall, it forms a crux in the micro-economic level often reflected in routine, day-to-day life.

James Chen, CMT is an expert trader, investment adviser, and global market strategist. Thomas J. Brock is a CFA and CPA with more than 20 years of experience in various areas including investing, ...

One of the important contributions of Economics in public policy is the marginal (or extra, additional, incremental) analysis in the increase in cost and revenues, satisfaction and dissatisfaction, ...

THE father of consumer choice theory, Alfred Marshall, believed that the more of something you have the less of it you want: a phenomenon economists call diminishing marginal utility. However this was ...