If you just finished running a marathon in the florida summer, explain why you would pay a higher price for first bottle of gatorade you consume then the second or third bottle of gatorade. at what point do you stop consuming gatorade even if they were offered for free?

Microeconomic theory explains that the consumption of goods and services occurs because these products have a utility for consumers. This utility varies for each person and according to the situation. For example, if a person has just run a marathon, a bottle of gatorade is of great use to that person. A second bottle still has good utility, but as more bottles are consumed, the utility is diminishing for the consumer as he or she is getting more and more satisfied. There will be a time when an extra bottle will not be of any use to the marathon runner because he or she is no longer thirsty and has consumed everything he or she needed. Therefore, microeconomic theory explains that utility is a decreasing parameter that directly influences consumer demand. At some point, the consumer will have no further use and will not buy the product.

the transatlantic slave trade radically impaired africa's potential to develop economically and maintain its social and political stability. the arrival of europeans on the west african coast and their establishment of slave ports in various parts of the continent triggered a continuous process of exploitation of africa's human resources, labor, and commodities. this exploitative commerce influenced the african political and religious aristocracies, the warrior classes and the biracial elite, who made small gains from the slave trade, to participate in the oppression of their own people. the europeans, on the other hand, greatly benefited from the atlantic trade, since it allowed them to amass the raw materials that fed the industrial revolution to the detriment of african societies whose capacity to transform their modes of production into a viable entrepreneurial economy was severely halted.

the tariff was created to protect industry in the northern part of the united states. industries in the north were being driven out of business by imported goods that were priced at a low rate. the goal was to protect these industries   by taxing the goods.