Can you summarize the concept of the Law of Diminishing Marginal Utility in this article section in easy terms?


The law of diminishing marginal utility explains that as a person consumes an item or a product, the satisfaction or utility they derive from the product wanes as they consume more and more of that product. For example, an individual might buy a certain type of chocolate for a while. Soon, they may buy less and choose another type of chocolate or buy cookies instead because the satisfaction they were initially getting from the chocolate is diminishing. Understanding the Law of Diminishing Marginal Utility Whenever an individual interacts or consumes an economic good, that individual acts in a way that demonstrates the order in which they value the use of that good. Thus, the first unit that is consumed satisfies the consumer's greatest need. The second unit results in a lesser amount of satisfaction, and so on. For example, consider an individual on a deserted island who finds a case of bottled water that washes ashore. That person might drink the first bottle indicating that satisfying their thirst was the most important use of the water. The individual might bathe themselves with the second bottle, or they might decide to save it for later. If they save it for later, this indicates that the person values the future use of the water more than bathing today, but still less than the immediate quenching of their thirst. This is called ordinal time preference. This concept helps explain savings and investing versus current consumption and spending. The example above also helps to explain why demand curves are downward sloping in microeconomic models since each additional unit of a good or service is put toward a less valuable use.
system
kya aap is anuchhed anubhag main seemaant upyogita ko kam karne ke kanoon kii avadharana ko aasaan shabdon main sankshep main prastut kar sakate hai?


seemaant upyogita ko kam karne kaa niyam bataata he ki jaisaa ki ek vyakti kisi vastu yaa utpaada kaa upbhog karata he, us utpaada se jo santushti yaa upyogita praapt hoti he, vah us utpaada ke adhik se adhik kaa upbhog karti he.udhaaharan ke liye, ek vyakti thodi der ke liye ek nishchit prakaar kii chocolate kharid saktaa he.jald hi, ve kam kharid sakate hai or ek anya prakaar kii chocolate chun sakate hai yaa kukies kharid sakate hai kyonki ve shuru main chocolate se jo santushti praapt kar rahe the, vah kam ho rahi he.seemaant upyogita ko kam karne ke niyam ko samajhnaa jab bhi koi vyakti ek aarthik achche par baatcheet karata he yaa uskaa upbhog karata he, to vyakti is tarah se kaary karata he jo us aadesh ko pradarshit karata he jisamen ve us achche ke upyog ko mahatv dete hai.is prakaar, pehali ikai jo upbhog kii jaati he, upabhokta kii sabase badi aavashyaktaa ko puraa karti he.duusari ikai ke parinamswaroop santushti kii kam maatra hoti he, or isi tarah.udhaaharan ke liye, ek nirjan dweep par ek vyakti par vichaar karen jo bottleband pani kaa ek maamla paata he jo raakh ko dhota he.vah vyakti pehali bottle pi saktaa he jo yah darshata he ki unki pyaas ko santusht karnaa pani kaa sabase mahatvapurn upyog tha.vyakti duusari bottle se khud ko snaan kar saktaa he, yaa ve baad main ise bachaane kaa faisla kar sakate hai.yadi ve ise baad main bachaate hai, to yah ingit karata he ki vyakti aaj snaan se adhik pani ke bhavishya ke upyog ko mahatv detaa he, lekin phir bhi unki pyaas kii tatkaal shaman se kam he.ise ordinal time variyata kaha jaataa he.yah avadharana bachat or nivesh banaam vartmaan khapat or kharch kii vyakhya karne main madad karti he.upar diya gaya udhaaharan yah bhi samajhane main madad karata he ki kyon maang ghatata microiconomic model main neeche kii ore dhalaan kar rahe hai kyonki ek acchhee yaa seva kii prayek atirikt ikai ko kam moolyawaan upyog kii ore rakhaa jaataa he.
user
seemaant upyogita ko kam karne kaa niyam bataata he ki maal par jo mulya log rakhte hai, ve kam ho jate hai kyonki ve isaki adhik ikaayiyon kaa upbhog karte hai.udhaaharan ke liye, pani kii ek bottle se praapt santushti pyaas ko buja sakati he, lekin atirikt log bhavishya ke liye snaan yaa bachat ke liye samaan mulya nahin rakhte hai.avadharana bataati he ki log turant kharch karne ke bajaay bachaane or nivesh karne ke liye kyon chunate hai, or kyon demand karvs main microiconomics main neeche kii ore dhalaan hota he.
assistant
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<|user|>
kya aap is anuchhed anubhag main seemaant upyogita ko kam karne ke kanoon kii avadharana ko aasaan shabdon main sankshep main prastut kar sakate hai?


seemaant upyogita ko kam karne kaa niyam bataata he ki jaisaa ki ek vyakti kisi vastu yaa utpaada kaa upbhog karata he, us utpaada se jo santushti yaa upyogita praapt hoti he, vah us utpaada ke adhik se adhik kaa upbhog karti he.udhaaharan ke liye, ek vyakti thodi der ke liye ek nishchit prakaar kii chocolate kharid saktaa he.jald hi, ve kam kharid sakate hai or ek anya prakaar kii chocolate chun sakate hai yaa kukies kharid sakate hai kyonki ve shuru main chocolate se jo santushti praapt kar rahe the, vah kam ho rahi he.seemaant upyogita ko kam karne ke niyam ko samajhnaa jab bhi koi vyakti ek aarthik achche par baatcheet karata he yaa uskaa upbhog karata he, to vyakti is tarah se kaary karata he jo us aadesh ko pradarshit karata he jisamen ve us achche ke upyog ko mahatv dete hai.is prakaar, pehali ikai jo upbhog kii jaati he, upabhokta kii sabase badi aavashyaktaa ko puraa karti he.duusari ikai ke parinamswaroop santushti kii kam maatra hoti he, or isi tarah.udhaaharan ke liye, ek nirjan dweep par ek vyakti par vichaar karen jo bottleband pani kaa ek maamla paata he jo raakh ko dhota he.vah vyakti pehali bottle pi saktaa he jo yah darshata he ki unki pyaas ko santusht karnaa pani kaa sabase mahatvapurn upyog tha.vyakti duusari bottle se khud ko snaan kar saktaa he, yaa ve baad main ise bachaane kaa faisla kar sakate hai.yadi ve ise baad main bachaate hai, to yah ingit karata he ki vyakti aaj snaan se adhik pani ke bhavishya ke upyog ko mahatv detaa he, lekin phir bhi unki pyaas kii tatkaal shaman se kam he.ise ordinal time variyata kaha jaataa he.yah avadharana bachat or nivesh banaam vartmaan khapat or kharch kii vyakhya karne main madad karti he.upar diya gaya udhaaharan yah bhi samajhane main madad karata he ki kyon maang ghatata microiconomic model main neeche kii ore dhalaan kar rahe hai kyonki ek acchhee yaa seva kii prayek atirikt ikai ko kam moolyawaan upyog kii ore rakhaa jaataa he.</s>
<|assistant|>
seemaant upyogita ko kam karne kaa niyam bataata he ki maal par jo mulya log rakhte hai, ve kam ho jate hai kyonki ve isaki adhik ikaayiyon kaa upbhog karte hai.udhaaharan ke liye, pani kii ek bottle se praapt santushti pyaas ko buja sakati he, lekin atirikt log bhavishya ke liye snaan yaa bachat ke liye samaan mulya nahin rakhte hai.avadharana bataati he ki log turant kharch karne ke bajaay bachaane or nivesh karne ke liye kyon chunate hai, or kyon demand karvs main microiconomics main neeche kii ore dhalaan hota he.</s>
