marginal-utility
/ˌmɑː.dʒɪ.nəl juːˈtɪl.ɪ.ti/ IELTSAcademic
noun
the extra satisfaction or benefit you get from one more unit of something. Economists use it to compare how useful a small increase is.
- The marginal utility of a second coffee was low.
- We studied marginal utility in economics class.
- Her marginal utility from more money fell over time.
Adinary Nuance
Marginal utility is more specific than benefit, value, or usefulness. It talks about the extra gain from one more unit, not the overall gain. Writers use it in economics when they want a precise term for small changes and choices.
In other languages
- Vietnamese
- ích lợi biên
- Spanish
- utilidad marginal
- Chinese
- 边际效用
- Japanese
- 限界効用
- Korean
- 한계효용
Etymology
The phrase comes from economics and was built from Latin-based words in the 19th century. Here, "marginal" means additional or extra, not unimportant.
Common phrases
marginal utility of moneydiminishing marginal utilitymeasure marginal utilitymaximize marginal utility
Synonyms
Related words
Frequently asked questions
- Is marginal utility a common everyday phrase?
- No, it is mostly used in economics and business studies.
- What is the difference between utility and marginal utility?
- Utility means usefulness overall. Marginal utility means the extra usefulness from one more unit.
- Can I use marginal utility in a sentence about money?
- Yes. Economists often talk about the marginal utility of money.
- Is marginal utility formal?
- Yes. It is a formal academic and economic term.