Consider the term marginal utility. Which word is the best synonym for marginal?

Study for the VirtualSC Economics Honors Exam. Utilize flashcards and multiple-choice questions, each with hints and explanations. Get prepared for your exam!

The term "marginal utility" refers to the additional satisfaction or benefit gained from consuming one more unit of a good or service. In this context, "marginal" signifies the incremental effect or change associated with that extra unit. Therefore, the best synonym for "marginal" in this context is "additional," as it directly conveys the idea of something that is extra or beyond what has already been considered. Understanding marginal utility is crucial for analyzing consumer choices and behavior, as it helps explain how individuals make decisions based on the changes in utility they anticipate from consuming more of a product.

In contrast, other options like "final," "excess," and "core" do not accurately capture the essence of what "marginal" implies in this economic context. "Final" suggests something that has come to an end, while "excess" could imply an amount beyond what is necessary, and "core" relates to the essential or central aspect, which does not align with the incremental nature of marginal utility.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy