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WHEN TO STOP YOUR EDUCATION?

   

    A man has bought six slices of pizza.  He ate first one.  He enjoyed the taste.  It satisfied his energy.  He took second one.  It gave 'marginally' less enjoyment and fulfillment.  After eating third, his satisfaction further decreased.  After fourth one, he felt a little satisfaction.  When eating fifth slice, he felt nothing.  He reached the saturation point.  Sixth slice made him uncomfortable and nauseating- a negative effect.
     Pizza slices can be named as unit of consumption in Economics.  The satisfaction is named 'utility' or marginal utility.  Let us make a table and allot  points  for satisfaction or utility.

Pizza slices                      satisfaction            total utility
       or                                or
Units of consumption      marginal utility

      1                                     20                           20
      2                                     15                           35
      3                                      10                          45
      4                                      5                            50
      5                                      0                            50
      6                                     -5                            45

     In the above table, the total utility obtained from the first slice is 20 points which keep on increasing until we reach our saturation point at 5th slice.  On the other hand, marginal utility keeps on diminishing with every additional slice of pizza consumed.  When he consumed the 6th slice, he has gone over the limit.  Hence, the marginal utility is negative and the total utility falls, we can now understand the law of 'diminishing marginal utility'.

     "During the course of consumption, as more and more units of a commodity are used, every  successive unit gives utility with a diminishing rate".

     This law can be applied to many situations.  Your first college degree will help you to earn a decent income.  Second and third degree will further increase your income.  If you go on earn more degrees, it may not have any impact on your earnings.  But specializing and being an expert in a field is always encouraged.
      The law tells us that there is a limit or saturation points for everything- food, dress, houses, jewels, goods, gadgets etc.,
     But the law is not applicable to the following.

1. Desire for money -not advisable
2. Desire for knowledge - advisable
3. Use of liquor or wine - not advisable
4. Collection of rare objects -advisable.

     Avoid addiction and obsession
     Practice moderation and limitation
     "Familiarity breeds contempt"
      More consumption brings dissatisfaction.   
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