1. The approach of the marginalist school is micro economic rather than macro-economic. It does not deal with the aggregate economy but instead deals with decision making of individual buyers and sellers, price of a single commodity of a single firm. In other words, it is mainly concerned with the problem of partial equilibrium analysis.
2. The marginal school has adopted the abstract and deductive methods of classical economics.
3. The marginal utility analysis is based on the assumption of competition. There will be a large number of buyers and sellers and no one buyer or seller can influence the decision of the market by his/her actions.
While the classical school consider cost of production and supply as the determinants of value, the marginalist school consider demand to be important element in the determination of value.
4. The analysis of marginal school is based on subjective and psychological approach.
5. The marginalist approach is based on the assumption of rational behaviour on the part of individuals.
6. The marginal school believes that economic forces generally came towards equilibrium.
7. The marginalist supported laissez faire policy of the classical economics.
Dullayo answered the question on May 15, 2018 at 11:50
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