1142.CBSE Economics Class XII - Utility and types of utility i.e, Total and Marginal utility
Arinjay Jain Academy
2015-07-10
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Utility and types of utility i.e, Total and Marginal utility
Utility refers to the expected satisfaction which consumer receives from the commodity in which has the capacity to satisfy his want on which she spends his resources.
Total utility refer to the total satisfaction derived by consumer from consumption of certain amount of commodities.
Marginal utility refer to the additional satisfaction derived by consumer from consumption of one more unit of commodities.
Utility and types of utility i.e, Total and Marginal utility
Utility refers to the expected satisfaction which consumer receives from the commodity in which has the capacity to satisfy his want on which she spends his resources.
Total utility refer to the total satisfaction derived by consumer from consumption of certain amount of commodities.
Marginal utility refer to the additional satisfaction derived by consumer from consumption of one more unit of commodities.
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