the law of diminishing marginal utility

Total utility refers to the total satisfaction derived from a good. The rational consumer is a utility maximiser and as he consume more of a good the marginal utility derived (extra Satisfaction) decreases. This is the law of diminishing marginal utility.

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What is utility?

In economics, utility is a measure of the relative satisfaction from, or desirability of, consumption of various goods and services. Given this measure, one may speak meaningfully of increasing or decreasing utility, and thereby explain economic behavior in terms of attempts to increase one's utility. For illustrative purposes, changes in utility are sometimes expressed in units called utils.

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Bangladesh official statistics

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Differentiate between centralization & decentralization.

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the steps in an organizing process

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the principles of organization

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organizing and organization.

Basically, an organization in its simplest form (and not necessarily a legal entity, e.g., corporation or LLC) is a person or group of people intentionally organized to accomplish an overall, common goal or set of goals. Business organizations can range in size from one person to tens of thousands.