Law-of-diminishing-marginal-utility
noun, Economics.
1.
the law that for a single consumer the marginal utility of a commodity diminishes for each additional unit of the commodity consumed.
Read Also:
- Law-of-definite-composition
noun 1. Chemistry. the statement that in a pure compound the elements are always combined in fixed proportions by weight. 2. Logic. the law that either a proposition or its denial must be true.
- Law of dominance
law of dominance See under Mendel’s law.
- Law of effect
noun 1. (psychol) another name for Thorndike’s law See Thorndike
- Law-of-excluded-middle
noun, Logic. 1. the principle that any proposition must be either true or false.
- Law of excitation
law of excitation n. The principle that a motor nerve responds to the alteration of value of an electric current from moment to moment.