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Diminishing Marginal Utility: Definition, Principle & Examples

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question 1 of 3

The concept that for each additional unit of a good the added satisfaction you receive from consuming the good decreases is called what?

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1. In the graph below, what is the marginal utility for the third bottle of water consumed?

2. Which of the following is true of a graph of marginal utility?

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About This Quiz & Worksheet

This quiz/worksheet combo can help assess your understanding of why marginal utility occurs and how it is defined.

Quiz & Worksheet Goals

Use these assessment tools to check your knowledge of:

  • Definition of marginal utility
  • How diminishing marginal utility occurs
  • Real-world examples of diminishing marginal utility

Skills Practiced

This quiz and worksheet can be used to help you practice the following skills:

  • Reading comprehension - ensure that you can draw the most important information from the related marginal utility lesson
  • Information recall - access the knowledge you have gained regarding diminishing marginal utility
  • Knowledge application - use your knowledge to answer questions about marginal utility

Additional Learning

To learn more about marginal utility, review the accompanying lesson on Diminishing Marginal Utility: Definition, Principle & Examples. This lesson will help you:

  • Define marginal utility
  • Determine why diminishing marginal utility occurs
  • Examine real-life scenarios of diminishing marginal utility
  • Analyze graphs of marginal utility
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