Question

Q.10 :-The concept that for each additional unit of a good the added satisfaction you receive from consuming the good decreases is called what?
1 Diminishing marginal utility
2 Chaos concept
3 Self-interest utility
4 Rational choice theory​

Answer 1

Answer:

self interest utility

Explanation:

i'm not sure about that , if its right.....So thanking me

Answer 2

Answer:

Diminishing marginal utility

Explanation:

The concept that for each additional unit of a good the added satisfaction you receive from consuming the good decreases is called Diminishing marginal utility.

       Diminishing marginal utility:

                                                   Diminishing marginal utility refers to the phenomenon that each additional unit of gain leads to an ever-smaller increase in subjective value.

                 marginal utility:

                                           Marginal utility is the added satisfaction that a consumer gets from having one more unit of a good or service. The concept of marginal utility is used by economists to determine how much of an item consumers are willing to purchase.

Chaos concept:

                     The term "chaos" is popularly used to refer to disorder or confusion. In science, chaos is an important conceptual paradox that has a precise mathematical meaning: A chaotic system is a deterministic system that is difficult to predict.

Self-interest utility:

                      The word Rational qualifies the Self-Interest as beneficial rather than greedy. Self-Interest can also entail making others happy. Saving income to buy gifts, or spending on family, is also an act of Rational Self-Interest that encompasses making others happy.

      Rational choice theory:

                                                Rational choice theory states that individuals use rational calculations to make rational choices and achieve outcomes that are aligned with their own .Rational choice theory looks at three concepts: rational actors, self interest and the invisible hand. Rationality can be used as an assumption for the behaviour of individuals in a wide range of contexts outside of economics. It is also used in political science, sociology, and philosophy.

The concept that for each additional unit of a good the added satisfaction you receive from consuming the good decreases is called Diminishing marginal utility.