Exams › SSC CGL (Prelims) › General

‘Marginal utility’ refers to:

1. Total satisfaction from consumption
2. Additional satisfaction from one more unit
3. Cost of production
4. Revenue earned

Correct answer: Additional satisfaction from one more unit

Solution

Marginal utility is the additional satisfaction a consumer gets from consuming one more unit of a good or service. It is different from total utility, which is the overall satisfaction from all units consumed.

Related SSC CGL (Prelims) General questions

• Assertion (A): Iron and steel qualifies as a heavy industry. Reason (R): It uses lightweight inputs such as cotton and rubber.
• The Human Development Index (HDI) measures progress in:
• Which of the following industries is classified as a heavy industry?
• Which of the following is a consumer goods industry product?
• The terms ‘Bull’ and ‘Bear’ are associated with:
• Assertion (A): GDP does not fully reflect income distribution. Reason (R): GDP measures total output, not equality.

⚔️ Practice SSC CGL (Prelims) General free + battle 1v1 →