Marginal utility theory
In economics, the marginal utility of a good or service is the gain from an increase, or loss from a decrease, in the consumption of that good or service. Economists sometimes speak of a law of dimini...
Marginal utility theory - Wikipedia
Paradox of value
The paradox of value (also known as the diamond–water paradox) is the apparent contradiction that, although water is on the whole more useful, in terms of survival, than diamonds, diamonds command a ...
Paradox of value - Wikipedia
Marginalism
Marginalism is a theory of economics that attempts to explain the discrepancy in the value of goods and services by reference to their secondary, or marginal, utility. The reason why the price of diam...
Marginalism - Wikipedia
Labor theory of value
The labor theory of value (LTV) is a heterodox economic theory of value that argues that the economic value of a good or service is determined by the total amount of socially necessary labor required ...