law of diminishing marginal utility

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Definitions of law of diminishing marginal utility words

noun law of diminishing marginal utility the law that for a single consumer the marginal utility of a commodity diminishes for each additional unit of the commodity consumed. 1
noun law of diminishing marginal utility (economics) In economics, the theory there is a general decrease in the utility of a product, as more units of it are consumed. 0

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This term is known only to a narrow circle of people with rare knowledge. Only 1% of English native speakers know the meaning of this word.

According to our data most of word are more popular. This word is almost not used. It has a much more popular synonym.

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