wiz-icon
MyQuestionIcon
MyQuestionIcon
7
You visited us 7 times! Enjoying our articles? Unlock Full Access!
Question

Marginal utility theory was originated by _____________.

A
Keynes
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
Marshall
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
C
Mayo
No worries! We‘ve got your back. Try BYJU‘S free classes today!
D
Maslow
No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
Solution

The correct option is B Marshall

The concept of marginal usefulness grew out of an attempt by economists to explain the force of mind of cost. The term “marginal utility”, attributed to the Austrian economist Friedrich von Wiser by Alfred Marshall was a translation of Weser’s term “Grenznutzen”. Marginal utility theory examines the enlarge in satisfaction customers gain from consuming an extra unit of a good. Effectiveness is the idea that people get a certain level of satisfaction/happiness/utility from consuming goods and services. Marginal utility is the advantage of strong an extra unit.


flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Techniques, values, principles
BUSINESS STUDIES
Watch in App
Join BYJU'S Learning Program
CrossIcon