Difference between revisions of "Marginalism"
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| − | + | Marginalism is a term in economics signifying the study of the effects of small changes. Included in marginalism, for example, is the study of marginal utility, marginal cost, marginal productivity, and the laws of diminishing marginal utility and diminishing rates of substitution. [[Neo-classical economics]] began to focus on marginalism. | |
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Revision as of 19:07, September 11, 2008
Marginalism is a term in economics signifying the study of the effects of small changes. Included in marginalism, for example, is the study of marginal utility, marginal cost, marginal productivity, and the laws of diminishing marginal utility and diminishing rates of substitution. Neo-classical economics began to focus on marginalism.