![]() There are always exceptions to any rule, and there are ways to get around the law of diminishing returns if needed/desired.įor example: If you want to increase your productivity at work, then finding new ways of working may be what it takes. Are there any exceptions to this rule or ways to get around it if needed/desired? It is important to be aware of these points so that we can make the most of our time and resources! 4. At some point, we all reach diminishing returns in different areas of our lives. The law of diminishing returns can also be applied to other areas of your life such as relationships and work! For example: You may want to spend more time with family and friends to strengthen relationships, or you may want to work fewer hours if you are not seeing an increase in productivity. Athletes who have reached a point where they can no longer improve their performance through training may choose to focus on other aspects of their sport like nutrition or mental toughness Employees who are overworked and not productive will try new solutions such as taking breaks or finding more efficient ways of working Businesses that have gone too big and can no longer manage their growth may be able to cut back on some of their expenses without losing customers In each case, people responded/reacted by doing something different: Athletes who have reached a point where they can no longer improve their performance through training Employees who are overworked and not productive Businesses that have gone too big and can no longer manage their growth Some examples of when the law of diminishing returns has been applied in the real world are: ![]() What are some examples of when the law of diminishing returns has been applied in the real world and how did people respond/react to it? Quality always beats quantity in this case! 3. For example, if you are applying for a lot of jobs, it is more beneficial to spend time on quality applications rather than spending just a few minutes on each application. The same principle can be applied to internships and job searches. For example, if you have a test tomorrow, studying for hours tonight is likely more beneficial than studying for just 30 minutes tonight and then another hour tomorrow morning. When it comes to academics, you can use the law of diminishing returns to your advantage by focusing on the most important tasks and not spending too much time on less important ones. How can you use this knowledge to your advantage when it comes to academics, internships, and job searches? It is important to be aware of these points so that we can make the most of our time and resources! 2. Similarly, if you are putting in a lot of effort into a relationship and it seems to be getting worse rather than better (e.g., more fights or arguments), then this could mean that too much time has been spent on the other person. For example: If you are working long hours but not seeing an increase in productivity, then you may be approaching the point where further work is not worth your time. This principle can also be applied to other areas of your life, such as work and relationships. However, if you get a 70% on the exam, then spending more time studying may result in a higher score. ![]() You are approaching the point where further study is not worth your time. As a college student or future professional, this means that you should be aware of the diminishing returns in your life.įor example: If you spend hours studying for an exam and get a 95% on it, then spending more time will likely not increase your score by much (if at all). This can be applied to many areas of life, including business and investing. In other words, you get less and less bang for your buck the more you do something. The law of diminishing returns is a principle that states that after a certain point, each additional unit of input results in a smaller increase in output. What is the law of diminishing returns and what does it mean for you as a college student and future professional? In this blog post, we will discuss what the law of diminishing returns is and how it affects you! 1. ![]()
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