COMMERCE and SST PRESENTATION Law of diminishing utility and oil pollution

Law of diminishing utility and oil pollution

1. LAW OF DIMINISHING MARGINAL UTILITY

2. Definition The law of diminishing marginal utility states that “as a consumer consumes more and more units of a specific commodity, utility from the each successive unit goes on diminishing.”

3. Tabular and Graphical Presentation TU – Total Utility MU- Marginal Utility

4. Marginal Utility - Marginal Utility can be defined as a measure of relative satisfaction gained or lost from an increase or decrease in the consumption of that good or service. Total Utility - The sum total of satisfaction which a consumer receives by consuming the various units of the commodity . Measurement of Utility

5. Various units of goods are homogenous. There is no time gap between the consumption of different units. Consumer is rational No price change Taste, preference and fashion must be unchanged. ASSUMPTIONS OF THE LAW

6. WHAT IS OIL POLLUTION?

7. SOURCES

8. EFFECTS

9. WAYS TO CONTROL OIL POLLUTION

10. Use of barriers and adsorbant materials   to mechanically recover the spilled oil is a commonly used method when the oil spill happens in a water environment, implying the use of physical barriers for the mechanical prevention of oil spreading. Some of the barriers may also chemically interact with the spilled oil and thus providing both mechanical and chemical control means. The main types of barriers used are : Booms  - Fire resistant booms are used in order to restrict the burning area, especially when controlled burning is applied. Skimmers  - Skimmers are usually propylene mop-like pads that are placed on the ocean surface to adsorb the spilled oil film. Natural and synthetic absorbing materials  - These have a sponge-like behavior, used to control a large variety of spills by removing some of the spilled oil and serving as a physical barrier that limits oil migration. Oil Spill Pollution Control

11. Use of chemical and biological methods   for the cleaning up of oil spills increases the oil's natural chemical or biological degradation processes. These methods are used together with mechanical control techniques and are especially relevant when the spill has reached a sensitive ecosystem . Use of chemical and biological methods