Marginal Benefit in Economics: Definition & Example

Instructions:

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question 1 of 3

The additional satisfaction of consuming an additional good or service is referred to as _____.

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1. The maximum amount a consumer is willing to pay for an additional good or service is referred to as _____.

2. With marginal benefit, a consumer can get satisfaction from _____.

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About This Quiz & Worksheet

This quiz/worksheet combo will test your knowledge of marginal benefit. The test will allow you to discover what you understand about this topic in economics.

Quiz & Worksheet Goals

In these assessments, you will be quizzed on the following:

  • The maximum amount a consumer is willing to pay for additional goods or services
  • Consequences of producing additional units
  • What satisfies consumers

Skills Practiced

  • Information recall - access the knowledge you've gained regarding the maximum amount a consumer is willing to pay for additional goods or services
  • Knowledge application - use your knowledge to answer questions about the consequences of producing additional units
  • Interpreting information - verify that you can read information regarding what satisfies consumers and interpret it correctly.

Additional Learning

To learn more about marginal benefit and its role in economics, review the lesson called Marginal Benefit in Economics: Definition, Formula & Example. The lesson will cover the following areas:

  • A first glance at marginal benefit
  • How to determine marginal benefit in economics
  • Example of a marginal benefit
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