124 Outcome: Defining Utility

What you’ll learn to do: define the concept of utility and satisfaction.

In this outcome, you will learn to gauge the measure of satisfaction that a person gets from buying a product.

The specific things you’ll learn to do in this section include:

  • Differentiate between marginal utility and total utility

LEARNING ACTIVITIES

The learning activities for this section include:

  • Reading: Consumer Choices
  • Reading: Consumption Choices
  • Reading: Choosing with Marginal Utility
  • Video: What is Marginal Utility?
  • Self Check: Defining Utility

Take time to review and reflect on each of these activities in order to improve your performance on the assessment for this section.

License

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Microeconomics by Lumen Learning is licensed under a Creative Commons Attribution 4.0 International License, except where otherwise noted.

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