Productivity, Diminishing Marginal Returns, and the Demand for Labor | Lesson Demo
Source: Council for Economic Education (EconEdLink) | Type: Interactive Tool
This video is a classroom demonstration of Lesson 21: Productivity, Diminishing Marginal Returns, and the Demand for Labor from CEE's Capstone Exemplary Lessons for High School Economics publication. In this lesson, students produce greeting cards with a fixed number of scissors and markers, and a variable number of workers. They discuss factors affecting workers productivity and the law of diminishing marginal returns. With a partner, they use marginal analysis to solve a problem about how many workers a firm should hire. The video starts with an introduction by two educators describing the lesson, followed by a demonstration of the lesson being taught to teachers in the classroom. This lesson was originally published in CEE's Capstone Exemplary Lessons for High School Economics, which helps students learn to apply economic reasoning to a wide range of real-world subjects—ranging from personal finance to global issues through 45 lessons. Visit the CEE Store for more information about the publication and how to purchase it.
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