Diminishing Returns Concept: At a certain point , increasing the amount of input (e.g. effort) will still lead to an increase in output but at a rate less than before.
I'm looking for resources (videos, pictures, games, activities, articles etc..) that would explain or illustrate this concept in an engaging and/or simple way especially to a lay audience. It could be a straightforward explanation like this A video explaining the concept "Co-relation does not equal causation"
https://www.youtube.com/watch?v=gxSUqr3ouYA
where the original intent of the video is to explain this concept. Or ,You can be creative; this illustration does not need to be originally made to explain this concept. The analogy can be made independently of the original intention of the resource. For example, if the concept is flexibility in your career, I can find a video of a person demonstrating physical flexibility even though the original intent of the video is not about career flexibility. (For more on what I mean by concept-demonstrating resources, see https://www.researchgate.net/post/List_of_Concept-Demonstrating_Resources
Please put your suggestion in the comments section below.
Paul: These are good links for your request:
Link: https://study.com/academy/lesson/law-of-diminishing-returns-definition-examples-quiz.html
Link: https://www.economicshelp.org/microessays/costs/diminishing-returns/
Link: https://businesszeal.com/examples-of-law-of-diminishing-returns
Proofreading is a good example. I've edited a number of volumes and no matter how much extra time you spend editing, formatting, style sheeting and/or proofreading, there's always going to be one or two things you overlooked. Knowing this and the LODR, at some point, you have to call it a day.
Diminishing returns, also called law of diminishing returns or principle of diminishing marginal productivity, economic law stating that if one input in the production of a commodity is increased while all other inputs are held fixed, a point will eventually be reached at which additions of the input yield progressively smaller, or diminishing, increases in output.
In the classic example of the law, a farmer who owns a given acreage of land will find that a certain number of labourers will yield the maximum output per worker. If he should hire more workers, the combination of land and labour would be less efficient because the proportional increase in the overall output would be less than the expansion of the labour force. The output per worker would therefore fall. This rule holds in any process of production unless the technique of production also changes.
Early economists, neglecting the possibility of scientific and technical progress that would improve the means of production, used the law of diminishing returns to predict that as population expanded in the world, output per head would fall, to the point where the level of misery would keep the population from increasing further. In stagnant economies, where techniques of production have not changed for long periods, this effect is clearly seen. In progressive economies, on the other hand, technical advances have succeeded in more than offsetting this factor and in raising the standard of living in spite of rising populations.
https://www.britannica.com/topic/diminishing-returns
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