Questions

Economists use the concept of marginal utility to measure happiness and pleasure and how that affects consumer decision making. They have also identified the law of diminishing marginal utility, which means that the first unit of consumption of a good or service has more utility than the next units of consumption.Hence, the marginal utility of the good diminishes as the amount of good consumed increases.

Cheque written by drawer and dated at some point in past is called as theante-dated cheque.Example-If drawer writes a cheque on 1st Februarybut he put the date 1st January. This type of cheque is called antedated cheque.