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Economics for Leaders: Marginal Decisions Making
Source: FTE | Type: Lesson
A short activity teaching the Law of Diminishing Marginal Productivity
Grades:
Concepts:
- Diminishing Utility
- Law of Demand
- Marginal Analysis
Standards:
- Economics 2: Marginal Cost/Benefit
Related Resources:
Reviews
Overview: A good lesson that introduces the major concepts of diminishing utility. The activity has the ability to create conversation and discussion in the classroom but at times can be impractical.
Positives: Having students introduced to diminishing utility through using items they are already familiar with (candy) is a great way.
Negatives: Can at times be impractical due to class sizes. Other things besides candy might be interest more students. Additionally, they way the lesson is structured, only one student is directly participating while the others are watching.
Improvement: This activity would make for a great small group lesson as opposed to whole class instruction. Small groups would provide for an opportunity for more students to participate.