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.

Originally designed for Taiwan, Beijing applied the “One Country, Two Systems” principle to Hong Kong on July 1, 1997 when sovereignty of the territory was passed from Britain to China.But “One Country, Two Systems,” which guarantees a degree of autonomy under Chinese supervision, isn’t applicable to Taiwan. The island has evolved into a self-ruled, hyper-democracy that enjoys de facto operational independence