Consumer Behaviour · SHS1 Economics

Lesson notes

Learning Objectives

Indicator: 1.1.3.LI.2 - Apply the Law of Diminishing Marginal Utility to everyday life.

By the end of the lesson, learners can:

State the Law of Diminishing Marginal Utility in their own words and identify the key elements of the law.
Construct a simple marginal utility schedule from given data and interpret what the numbers mean.
Apply the Law of Diminishing Marginal Utility to explain common daily consumption experiences such as eating, drinking and buying goods.
Justify why a rational consumer stops consuming a good at a particular point, using the concept of diminishing satisfaction.
Demonstrate through role-play how satisfaction from additional units of a good decreases with each extra unit consumed.

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Curriculum details

Strand: Consumers' Rational Decision Making (Strand 1)
Sub-strand: Consumer Behaviour (1.3)
Content standard: 1.1.3.CS.1 - Employ knowledge of the concept of utility in everyday life as a rational consumer. 1.1.3.LO.1 Use relevant information gathered from home, school and community through observation to carefully explain the concept of utility and the law of diminishing marginal utility.
Indicator: 1.1.3.LI.2 - Apply the Law of Diminishing Marginal Utility to everyday life.
Suggested placement: Semester 1, Week 12 (Week 12 of the year)
Our suggestion, laid out in curriculum order across three terms of twelve weeks. NaCCA does not fix the week, so follow your school's scheme of learning.
Source document note: The official curriculum document has a fault in this entry, so the curriculum text above is transcribed exactly as printed:

exemplars - p.31 the document prints the assessment code as "1.1.3AS.2", with no separator before the type token
Curriculum reference: NaCCA curriculum document, p. 31

Exemplars (from the NaCCA curriculum)

Experiential Learning: Role-play the law of diminishing marginal utility. Pay attention to cultural and religious differences. Leaners should exhibit commitment and respect for time during the delivery of the lesson.
Assessment (1.1.3.AS.2). The document marks these depth-of-knowledge levels for this indicator: Level 3 Strategic reasoning.
Teaching and Learning Resources:
- Food/water
- Marker
- White board, any other available resource