this is my class presentation

1. The law of Diminishing Marginal Utility

2. Key terms in this topic
 Utility
 Kinds of Utility
 Law of Diminishing Marginal Utility(LDMU)
 Limitations of LDMU
 Importance of LDMU

3. Starter activity
 Imagine you are really thirsty after a P.E
lesson and I offer you water to drink.
 How many glasses of water would quench
your thirst?
 What do you get when you drink water?
 Why do you say – enough – I can’t drink
any more after taking two or three glasses
of water?
 Discuss in your group

4. UTILITY
 The satisfaction of wants and needs
obtained from the use or
consumption of goods and services.
The terms utility and satisfaction
are, for the most part, used
interchangeably in economics.

5. TOTAL UTILITY
 The total satisfaction of wants and
needs obtained from the use or
consumption of a good and service.
 Total utility is most often used in
consumer demand theory to indicate
how much overall satisfaction
someone obtains from a given activity.

6. Marginal Utility
 The additional utility, or satisfaction of wants
and needs, obtained from the consumption or
use of an additional unit of a good.
 It is specified as the change in total utility
divided by the change in quantity. Marginal
utility indicates what each additional unit of a
good is worth to a consumer.

7. How can we measure utility ?
 Discuss in pairs – (10minutes)
 How can you assess the money spent on school
uniform?
 How can you assess the worth of money you spent on
your last dental visit?
 How might you justify your mobile bills?

8. Plenary
 Write three questions on what you have learnt today.
 Compare your questions with your friends.