20:17
Saturday, August 18, 2007
the weekly dose of economic theories.
the Law of diminishing marginal utility.means: the additional satisfaction one derives from consuming one more unit of a good declines as a consumer consumes more and more of a good.
lecturer: ..." let's say you go on a first date, you will reach at 6 when your date is at 7. and is worried when she doesn't reach by 8."
"a year later, you get irritated when your date comes 5 minutes late."
"4 years later, you two started quarrelling.."
"5 years later, heated arguments over smallest things.."
"6 years later, you all start to fight. kick and punch kick and punch.."
"7 years later, you two break up, that's why there's a research saying that couples break up aft 7 years.."
" and that's how the law of diminishing marginal utility comes about!"
describing a point on the graphlecturer: "... ok, can you all see the point on the screen?"
starts drawing circles with the pointer on the screen.
"now, cos students reflected that they can't see the point when i dont move the pointer, so i'm moving the pointer so that you all can see the point."
"not because i have parkinson disease ah.."
-.-"
so amusing.