Q.1. define economics. also explain the use of studyingeconomics as a subject. Q

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Q.1. define economics. also explain the use of studyingeconomics as a subject. Q.2. Explaimn the assumption of law of diminishingmarginal utility. also give the exceptions of this law ofdiminishing marginal utility and show the pratical importance ofthis law. Q.1. define economics. also explain the use of studyingeconomics as a subject. Q.2. Explaimn the assumption of law of diminishingmarginal utility. also give the exceptions of this law ofdiminishing marginal utility and show the pratical importance ofthis law.

Explanation / Answer

First question is answered here:/economics-topic-5-441299-cpi0.aspx Second question, I suggest you look up here: http://en.wikipedia.org/wiki/Marginal_utility http://william-king.www.drexel.edu/top/prin/txt/Much/Eco416.html http://www.answers.com/topic/law-of-diminishing-marginal-utility

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