Consumerism is not the answer to Happiness

So I had this thought partly also in thanks to Cassie from my youth group who contributed. I with help have devised some thoughts about how economics itself proves that consumerism is not the answer to happiness.

This is what in economics we call a demand curve. The law of demand states that as price decreases, quantity demanded increase. Which says as price decreases you will demand more of a good, because it costs you less.

But this year we studied in greater detail why this is.
Utility is a measure of how much satisfaction you gain from a good or service and from this is the most interesting law for today.
The law of diminishing marginal utility
- Successive equal additions to consumption will generate smaller amounts of extra utility.
Basically as you consume more the extra satisfaction becomes less.

Utility can even become negative. You wouldn't consume something even if you were paid to do so. Thus we have eating competitions where a reward is due, for one to want to enter. Whether it is material or the praise of others.
This whole idea is right in front of us. We know that if we have too much of one thing we will dislike it and can get to the point of sickness.
I believe the same occurs with consumerism, the satisfaction of material things becomes less and less until the person drives themself into depression or something of the sort.
We have heard it all before, people that are rich but unhappy.

I hope you enjoyed your beginner lesson in economics and are also convinced that consumerism does not equal happiness.