Marginal theory of value

Hey kiddo! So, have you ever wanted something like a toy or candy really badly and your mom or dad said you could only have one? That's where marginal theory of value comes in!

Basically, the idea is that the more you have of something, the less you value each additional thing. So, let's say you have one toy and you really want another one. That second toy is really valuable to you because you don't have it yet. But, if you already have three toys and someone offers you another one, it's not as valuable anymore because you already have plenty.

This same idea can be applied to lots of other things like money, food, and even time! The more you have of something, the less valuable each additional unit of it becomes. So, that's the marginal theory of value!