Law of Diminishing Marginal Utility
Law of Diminishing Marginal Utility
Q – quantity of good
TU – total utility
MU – marginal utility (ΔTU)
EconGuru » Library » Basic Economic Concepts
Macroeconomic Unemployment Explained
While many of us surely don’t appreciate it from a personal perspective, unemployment is unavoidable in any economy. However, it is not necessarily harmful. In a healthy economy, a certain degree of unemployment indicated as a percentage reflects the fact that there constantly are job seekers and employers voluntarily running after better opportunities for their own good.
