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gs_-05_--_Three_fundamental_economic_laws

gs_-05_--_Three_fundamental_economic_laws - Notice As of...

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1 Notice: As of Nov. 24, 2009 According to UVLE for ECONOMICS 11, there are 76 members who have registered. This is still relatively low as a percent of the enrollment in the whole class. Lecture #5: THREE FUNDAMENTAL LAWS LAW OF DIMINISHING MARGINAL UTILITY LAW OF DIMINISHING RETURNS LAW OF COMPARATIVE ADVANTAGE Nov. 25, 2009 Econ 11 -- Lecture #5 3 LAWS OF CONSUMPTION THE LAW OF DIMINISHING MARGINAL UTILITY To explain how the demand for goods is determined.
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