SS2: ECONOMICS – 2ND TERM Elementary Treatment of Utility | Week 4

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Elementary Treatment of Utility | Week 4

Performance Objectives:

By the end of this lesson, you should be able to:

Define Utilitythe state of being useful, profitable, or beneficial. More
Explain the concept of utility
State the types of utility
State the law of diminishing marginal utility
Discuss the principles of utility maximisation
Explain the derivation of the demand curve

Lesson Content

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Basic Concept of Utility

Utility Maximization

Derivation of Demand Curve from the Marginal Utility Curve

Theory Questions: Elementary Treatment of Utility

SS2: Economics – Elementary Treatment of Utility

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