Introduction to economics - Assignment for Natural science students

Authors: yirga sewuinet, Yirga | Social & Management Sciences Economics Study 1 pages 122 words

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Dilla University

Department of Economics

Introduction to economics

Assignment for Natural science students (20%)

1. What is consumer preference? What is the meaning of utility? Explain them.

2. What are the two approaches of utility? Explain them with their assumptions.

3. What are total utility and marginal utility? Explain them.

4. What is the law of diminishing marginal utility? Explain it by using example

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