Economics and Leadership
This morning the students have been hard at work in their pre-excursion morning classes. We make sure they are challenged as much as possible whilst looking at fascinating and useful topics.
For example, this morning, some of the students have been in our 'Business Studies: Micro & Macro Economics' sessions. Our Business teacher Mike has been talking to them about how the value of an extra worker changes as team size is increased. This concept of marginal utility is essential for deciding when to employ another worker.
For example, this morning, some of the students have been in our 'Business Studies: Micro & Macro Economics' sessions. Our Business teacher Mike has been talking to them about how the value of an extra worker changes as team size is increased. This concept of marginal utility is essential for deciding when to employ another worker.
Here are the students simulating a production line, showing how diminishing marginal utility can arise in real life situations.
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