The Principle of Diminishing Marginal Utility States That People Don't

question 94

True/False

The principle of diminishing marginal utility states that people don't enjoy consuming more of a good.

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Definitions:

Socialist systems

Economic and political systems where the means of production, distribution, and exchange are owned or regulated by the community as a whole.

Totalitarian systems

A political system where the state recognizes no limits to its authority and strives to regulate every aspect of public and private life wherever feasible.

Healthy individualism

The concept that promotes the development of one's individual traits and values in a balanced manner, advocating for personal growth while considering the well-being of others.

Organic solidarity

A concept in sociology introduced by Émile Durkheim that describes the social cohesion based upon the dependence individuals have on each other in more advanced societies.