One of the most important axioms is, that as the quantity…
“One of the most important axioms is, that as the quantity of any commodity, for instance, plain food, which a man has to consume, increases, so the utility or benefit derived from the last portion used decreases in degree. The decrease in enjoyment between the beginning and the end of a meal may be taken as an example.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
The more of a good you consume, the less additional satisfaction each extra unit provides, illustrating diminishing marginal utility.
In simple terms: Extra units give less satisfaction.
Key Takeaway
Recognize limits of consumption.
Themes
economics
utility
consumption
decisionmaking
Mood
analytical
reflective
Type
economic
educational
When to use this quote
- budgeting
- food portions
- resource allocation
- marketing strategies
Key Concepts
diminishing marginal utility
law of diminishing returns
Questions to Reflect On
- How does this principle affect your spending habits?
- When does a need become a want?
A Different Perspective
Assumes rational behavior and constant preferences.