Total and Marginal Utility

Utility in Economics is another word for "happiness". Most people would argue that more is always better. This lesson introduces and analyzes the relationship between the level of consumption of a particular good and the consumer's total and marginal utility derived from the good's consumption. We introduce the "law of diminishing marginal utility", which itself helps explain the
Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! econclassroom.c...

[@vaishalibalakumar3458]

The utility that I gain from listening to your lectures is much higher than any other lecture , keep it up 👍

[@shahancheralody55]

The way u explained .. it made me smile so wide due to satisfaction...

[@prejith_._._]

High util level

[@RcReventon]

i did the same thing hahaha

[@danieljosephaghidi6560]

Like seriously I understood very well

[@marten6039]

Only some people have the skill to make a student studying economics happy from satisfaction of finally understanding something so easily.Good Job

[@quickielickie2106]

I appreciate your simplified explanations and organization of your playlists 😊

[@playfulkiss2402]

I appreciated the way you explained all of it in just 8 mins! I perfectly understood what you said

[@modelshivakumar449]

Goodmoriningsir

[@tobdenw]

Just finished my IB exams last week. Thank you so much for your videos as it helped me immensely!

[@IanCheng-b4c]

I'm currently doing my internal AS91401 and I was struggling understanding what total utility and marginal utility are. Fortunately, I found this video and it is very easy to understand. Thanks a lot!

[@tzutzu6455]

NO WONDER DEMAND CURVES ARE ALWAYS DOWNWARD SLOPING (because of Diminishing Marginal Revenue)... My teacher never cared to explain it! Thank you!

[@bobbysteakhouse7022]

I thought it was because the Law of Demand says that there is an inverse relationship between price and quantity demanded, thus a downward sloping line

[@Freeman265]

this tutorial has helped understand the law of demand and made my eco start up simple......bravo tutor

[@londonsars0234]

Anyone who starts an economics video with "Making Me Nervous" by Brad Sucks has got my attention!! This video was very helpful!

[@sakeefhasan]

100 utils gained from this lecture. Thank you.

[@Jewel235_]

Keep up with this simple and precise way of leacturing .

[@vyl132]

Watched so many videos on the same topic but got maximum happiness n satisfaction from this lecture ✅✅

[@just.a.browser]

Thank you! It helped me gain more understanding!!❤🎉

[@LILY00711]

thankyou so much i surely gained maximum utility by listening to this video

[@xaladrez7811]

PLEASE DONT STOP UPLOADING MORE LESSONS😣

[@ashomanuisaac3813]

Thank you sir. When my school miss taught me this , i was like hovering.

[@ayan8233]

The law of diminishing marginal utility is also why you're expected to pay less for large quantities of goods (think wholesale markets), i.e. buying in bulk

[@nam_jooning]

This is the best explanation for this topic
Thank you ✨

[@Synochra]

lol look at this weakling, giving up at 6 scoops of ice cream
great video :)

[@chennicole1392]

LOL learning this in eighth grade thank you for the great video

[@xaladrez7811]

Omg the amount of time i spent on searching a video IN ENGLISH 😣 all of em are indian this is the only one so far that i found in english. If anyone can recommend me more english econ channels please do

[@tabithaneema2270]

Do you still need the channels?

[@SiddharthSingh-mt5iu]

Sir aap bahut achcha padhaate Hain

[@kimberlyjoyyubat3853]

Such a clear explanation. Thanks it really helps me understand this topic

[@sundusy4345]

One of the best well explained video :) Thank you!

[@mzaz2844]

Thank you so muchhhhh!!!!!!! I'm loaded with utility now

[@mugahedbaatiah4899]

so grateful for this explanation , you are really life saver

[@saraha.s5061]

thank you.... you really made everything clear

[@Tracks777]

Nice content! Keep it up!

[@googoogaga8566]

you made it so easy to understand!! thank you so much!!

[@pushkarkulkarni4861]

I really like how you are explaining . I like it👍

[@mariakouloglou8327]

I have seen the idea that marginal utility cannot be negative because it's always beneficial to have more of a good. Even if you don't want to eat 10 ice creams, you can still give them away to friends or sell them, so they still provide benefit to you.

[@ottomanstate89]

Great explanation!

[@ThatWookieGuy]

Thank you. Doing a mock teaching lesson today, has helped me structure.

[@sunilbhagat2294]

B

[@adetolaorire8047]

It is satisfaction a consumer derived from a commodity at a particular period of time

[@parthnair1498]

Very nice video .....explained all easily

[@dempsygoodro2578]

Thank you! this was supper helpful!

[@vikrant5788]

How to represent utility for services ( i.e. watching movies, playing games, staying in hotels, etc)in a graph.

[@gulnaarturiyan7499]

dear your lectures are great please upload more lectures on other topics in economics
as well.

[@PawanSingh-kz7jo]

Zee TV

[@micah2183]

Thank you thank you thank you!

[@annanyatogooh5042]

Thank you sir 🙏

[@visionforwardacademy8596]

If utility is happiness as u told then why can not happiness increase if total utility increase much as satisfaction.

[@nagaapi]

thanks man

[@saahilmohta3030]

So helpful, thank you!

[@wonnietomlin4401]

I could understand easily thank u sir

[@abhinabadey1999]

Thank you very much.It helped me a lot

[@nille1096]

Such an useful and informative video presentation. Thank you for this. Hoping that you'll make a lot of videos related in economics.😁

[@meganol9661]

Very clear

[@vish5335]

Really helpful 💖

[@sadeeqahmad2706]

*Osam explanation!*

[@assil110]

I dont believe that marginal utility can be negative. Actually, owning a good or a service does not mean that we have to consume it (for instance, owning or buying many cookies does not necessarily imply that we will have to eat all of them). So, I think the lowest possible value of MU is zero. Why do we need to assume that rational individuals would literally consume the good or service if they know, ex ante, that it would harm them or decrease their satisfaction level !!! What about the preference propriety: "More is Better"???

[@jeromecabildo9572]

nice thankyou for your good explaination😁

[@aaronpatalune8621]

Great video. I show this to my students in micro class. Much better than some middle age fat dude standing in front of a chalkboard. Anyone else thinking man vs food?

[@adrianneserna4864]

Ohhhh you save my butt their i though that i cannot understand the total and marginal utility thank you you really help me😊

[@jhonmacraimbanajokora8657]

So does that mean when we earn a lot of money, the lesser happiness we get from money? I'm pretty sad of having little money lol

[@thinukawijerathne]

Thanks 😊

[@shahancheralody55]

plzz make a video on consumer equilibrium one commodity and two commodity plzzzzzzzzzzzz

[@MinukuuTutorials]

Thank you

[@rdq4720]

So he should eat 5 or 1?

[@cashewnut4evr]

thanks!❤

[@fjlearnon58]

Thank you sir. I have uploaded few economics concepts. All are welcome

[@nrlnajwaa753]

so informative !!! Thank youuuu

[@sol_music]

Thank you so much!

[@khadijaelfadl3911]

Thank you !

[@mohamedaslam4627]

great video :)

[@sivasriganeshaansevalingam7524]

You de best 😍💯

[@rommelbaquiran8418]

thanks a lott

[@shahancheralody55]

Awesome

[@Blazer433]

lmao i love your intor & outro music

[@seanyu8446]

only if you are not lactose intolerance #canrelate

[@ayishafariha5048]

I honestly thought the entire lecture is going to be in a song

[@kranthikumar4379]

good

[@duffdingelmeyer7101]

Value is proportional to labor time. Utils are nonsense

[@haufikutuleipokanya6094]

♥️

[@grinfacelaxu]

❤

[@maryamsoliman6825]

Thank You!