In economics, what does the term "marginal" usually refer to?
A) a small change in an economic variable
B) a low-quality product or resource
C) an unimportant and irrelevant economic variable
D) a footnote or minor point

Question

In economics, what does the term "marginal" usually refer to?  
A) a small change in an economic variable 
B) a low-quality product or resource 
C) an unimportant and irrelevant economic variable 
D) a footnote or minor point

Quizplus · Accepted Answer

In economics, the term "marginal" usually refers to a small change in an economic variable. For example, marginal cost is the additional cost of producing one more unit of a good or service. Marginal revenue is the additional revenue earned by producing and selling one more unit of a good or service. Marginal analysis is a common method used in economics to evaluate decisions based on the incremental costs and benefits of each option.

In Economics, What Does the Term "Marginal" Usually Refer To