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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...

Пікірлер: 82

  • @vaishalibalakumar3458
    @vaishalibalakumar34583 жыл бұрын

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

  • @shahancheralody55
    @shahancheralody555 жыл бұрын

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

  • @prejith_._._

    @prejith_._._

    3 жыл бұрын

    High util level

  • @RcReventon

    @RcReventon

    3 жыл бұрын

    i did the same thing hahaha

  • @danieljosephaghidi6560

    @danieljosephaghidi6560

    2 жыл бұрын

    Like seriously I understood very well

  • @marten6039
    @marten60394 жыл бұрын

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

  • @quickielickie2106
    @quickielickie2106 Жыл бұрын

    I appreciate your simplified explanations and organization of your playlists 😊

  • @playfulkiss2402
    @playfulkiss24023 жыл бұрын

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

  • @modelshivakumar449

    @modelshivakumar449

    2 жыл бұрын

    Goodmoriningsir

  • @tobdenw
    @tobdenw7 жыл бұрын

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

  • @tzutzu6455
    @tzutzu64556 жыл бұрын

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

  • @bobbysteakhouse7022

    @bobbysteakhouse7022

    5 жыл бұрын

    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

  • @user-dj7cb3tn5e
    @user-dj7cb3tn5e2 жыл бұрын

    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!

  • @londonsars0234
    @londonsars02343 жыл бұрын

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

  • @Freeman265
    @Freeman2655 жыл бұрын

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

  • @Synochra
    @Synochra6 жыл бұрын

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

  • @sakeefhasan
    @sakeefhasan2 жыл бұрын

    100 utils gained from this lecture. Thank you.

  • @xaladrez7811
    @xaladrez78113 жыл бұрын

    PLEASE DONT STOP UPLOADING MORE LESSONS😣

  • @Jewel235_
    @Jewel235_3 жыл бұрын

    Keep up with this simple and precise way of leacturing .

  • @vyl132
    @vyl1322 жыл бұрын

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

  • @ashomanuisaac3813
    @ashomanuisaac38134 жыл бұрын

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

  • @chennicole1392
    @chennicole13922 жыл бұрын

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

  • @nam_jooning
    @nam_jooning3 жыл бұрын

    This is the best explanation for this topic Thank you ✨

  • @user-ur1xo6rj7p
    @user-ur1xo6rj7p10 ай бұрын

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

  • @LILY00711
    @LILY007112 жыл бұрын

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

  • @sundusy4345
    @sundusy43454 жыл бұрын

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

  • @SiddharthSingh-mt5iu
    @SiddharthSingh-mt5iu2 жыл бұрын

    Sir aap bahut achcha padhaate Hain

  • @kimberlyjoyyubat3853
    @kimberlyjoyyubat38533 жыл бұрын

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

  • @pushkarkulkarni4861
    @pushkarkulkarni48616 жыл бұрын

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

  • @mzaz2844
    @mzaz28442 жыл бұрын

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

  • @xaladrez7811
    @xaladrez78113 жыл бұрын

    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

    @tabithaneema2270

    3 жыл бұрын

    Do you still need the channels?

  • @mugahedbaatiah4899
    @mugahedbaatiah48993 жыл бұрын

    so grateful for this explanation , you are really life saver

  • @micah2183
    @micah2183 Жыл бұрын

    Thank you thank you thank you!

  • @googoogaga8566
    @googoogaga85663 жыл бұрын

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

  • @Tracks777
    @Tracks7777 жыл бұрын

    Nice content! Keep it up!

  • @ThatWookieGuy
    @ThatWookieGuy6 жыл бұрын

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

  • @sunilbhagat2294

    @sunilbhagat2294

    6 жыл бұрын

    B

  • @adetolaorire8047
    @adetolaorire80472 жыл бұрын

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

  • @saraha.s5061
    @saraha.s50613 жыл бұрын

    thank you.... you really made everything clear

  • @annanyatogooh5042
    @annanyatogooh50423 жыл бұрын

    Thank you sir 🙏

  • @dempsygoodro2578
    @dempsygoodro25782 жыл бұрын

    Thank you! this was supper helpful!

  • @nagaapi
    @nagaapi5 жыл бұрын

    thanks man

  • @abhinabadey1999
    @abhinabadey19997 жыл бұрын

    Thank you very much.It helped me a lot

  • @ottomanstate89
    @ottomanstate893 жыл бұрын

    Great explanation!

  • @mariakouloglou8327
    @mariakouloglou8327 Жыл бұрын

    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.

  • @thinukawijerathne
    @thinukawijerathne2 жыл бұрын

    Thanks 😊

  • @meganol9661
    @meganol96613 жыл бұрын

    Very clear

  • @gulnaarturiyan7499
    @gulnaarturiyan74997 жыл бұрын

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

  • @PawanSingh-kz7jo

    @PawanSingh-kz7jo

    6 жыл бұрын

    Zee TV

  • @wonnietomlin4401
    @wonnietomlin44012 жыл бұрын

    I could understand easily thank u sir

  • @parthnair1498
    @parthnair14985 жыл бұрын

    Very nice video .....explained all easily

  • @aaronpatalune8621
    @aaronpatalune86215 жыл бұрын

    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?

  • @saahilmohta3030
    @saahilmohta30303 жыл бұрын

    So helpful, thank you!

  • @nille1096
    @nille10964 жыл бұрын

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

  • @vish5335
    @vish53352 жыл бұрын

    Really helpful 💖

  • @adrianneserna4864
    @adrianneserna48645 жыл бұрын

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

  • @sivasriganeshaansevalingam7524
    @sivasriganeshaansevalingam75243 жыл бұрын

    You de best 😍💯

  • @fjlearnon58
    @fjlearnon582 жыл бұрын

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

  • @vikrant5788
    @vikrant57885 жыл бұрын

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

  • @sadeeqahmad2706
    @sadeeqahmad27064 жыл бұрын

    *Osam explanation!*

  • @visionforwardacademy8596
    @visionforwardacademy85965 жыл бұрын

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

  • @jeromecabildo9572
    @jeromecabildo95724 жыл бұрын

    nice thankyou for your good explaination😁

  • @shahancheralody55
    @shahancheralody555 жыл бұрын

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

  • @rommelbaquiran8418
    @rommelbaquiran84182 жыл бұрын

    thanks a lott

  • @MinukuuTutorials
    @MinukuuTutorials5 жыл бұрын

    Thank you

  • @nrlnajwaa753
    @nrlnajwaa7535 жыл бұрын

    so informative !!! Thank youuuu

  • @khadijaelfadl3911
    @khadijaelfadl39116 жыл бұрын

    Thank you !

  • @sol_music
    @sol_music6 жыл бұрын

    Thank you so much!

  • @maryamsoliman6825
    @maryamsoliman68256 жыл бұрын

    Thank You!

  • @jhonmacraimbanajokora8657
    @jhonmacraimbanajokora86573 жыл бұрын

    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

  • @mohamedaslam4627
    @mohamedaslam46275 жыл бұрын

    great video :)

  • @Blazer433
    @Blazer4336 жыл бұрын

    lmao i love your intor & outro music

  • @shahancheralody55
    @shahancheralody555 жыл бұрын

    Awesome

  • @assil110
    @assil110 Жыл бұрын

    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"???

  • @seanyu8446
    @seanyu8446 Жыл бұрын

    only if you are not lactose intolerance #canrelate

  • @rdq4720
    @rdq47205 жыл бұрын

    So he should eat 5 or 1?

  • @ayishafariha5048
    @ayishafariha5048 Жыл бұрын

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

  • @kranthikumar4379
    @kranthikumar43796 жыл бұрын

    good

  • @haufikutuleipokanya6094
    @haufikutuleipokanya60944 жыл бұрын

    ♥️

  • @duffdingelmeyer7101
    @duffdingelmeyer71012 жыл бұрын

    Value is proportional to labor time. Utils are nonsense

  • @grinfacelaxu
    @grinfacelaxu6 жыл бұрын