UPSC CDS 1 2018 GK Paper

According to the law of diminishing marginal utility, as the amount of a good consumed increases, the marginal utility or that good tends to diminish. The law of diminishing marginal utility is a law of economics stating that as a person increases consumption of a product while keeping consumption of other products constant, there is a decline in the marginal utility that person derives from consuming each additional unit of that product.