Partha pratim
- Rate S$2
- Response 1h
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- Economics
- Microeconomics
- Macroeconomics
Calcutta University graduate, loves teaching economics in very simple methods , uses very mordern and conventional methods of teaching , and is open to all kind of doubts .
- Economics
- Microeconomics
- Macroeconomics
Lesson location
About Partha pratim
I myself is a student who just loves to connect the text book economics with the modern world and simplify such highly valued complicated misunderstood concepts and being a student i feeli will be able to connect to you better than anybody else .
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About the lesson
- All levels
- English
All languages in which the lesson is available :
English
Let's start with tha basics . We all have heard about the concept of diminishing marginal utility . But have we really thought why we are learning it .Let me state a simple example - suppose one day you have recieved your pocket money and you had a sweet craving , so you went to a shop and ate the first sweet and it felt delicious , after that when you ate the second sweet you felt equally delicious but after that when you ate the third sweet it didn't gave you the same happiness or satisfaction as the previous one and the more you eat the more you become dissatisfied and we all know utility is nothing but satisfaction . Thus we get to see if we consume a homogeneous product the utility derived from each successive unit gradually decreases which is nothing but the law of diminishing marginal utility. Hope you got it....
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