küljeväärtused

Küljeväärtused, a term of Estonian origin, translates to "side values" or "marginal values" in English. This concept is most commonly encountered in the field of economics, specifically within the context of utility theory and consumer behavior. Küljeväärtused refer to the additional satisfaction or utility a consumer derives from consuming one more unit of a particular good or service, holding all other consumption levels constant.

In simpler terms, it is the incremental benefit gained from an extra unit. For example, if someone is very thirsty, the küljeväärtus of the first glass of water will be exceptionally high. As they consume more water, the additional satisfaction from each subsequent glass will likely decrease, illustrating the principle of diminishing marginal utility. Economists use this concept to understand how consumers make choices to maximize their overall satisfaction given their limited resources. It is a foundational idea for analyzing demand curves and understanding price elasticity. The term is not widely used outside of specialized economic discourse and its Estonian origin means it is primarily encountered in contexts related to Estonian economic literature or academic discussions originating from that region.