The "Marginal Revolution" refers to a fundamental shift in economic theory that occurred in the late 19th century. It introduced the concept of marginal utility, which explains how individuals make decisions based on the additional satisfaction or benefit gained from consuming one more unit of a good or service. This revolution was primarily associated with economists like Carl Menger, William Stanley Jevons, and Leon Walras. This shift moved economics away from classical theories that focused on total utility and production costs. Instead, it emphasized the importance of individual preferences and choices, laying the groundwork for modern microeconomic analysis. The Marginal Revolution significantly influenced how economists understand consumer behavior and market dynamics.