Production (HL only)

IB Economics: Production (HL only)

This page begins unit 2.12 and focuses on the relationship between output, time and variable inputs into a business. This includes the concept of diminishing returns. A simple exercise to start off this concept is for your students to imagine that they start a business selling cup cakes. On their own they can bake perhaps 50 each day, to take into school and sell. Demand is rising so they ask a friend to help out....

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