Enrichment
How we make pencils
17th September 2019
Get those pencils ready to pick out a huge amount of microeconomics in this brilliant 4 minute clip from Faber-Castell which produces 2.3 billion pencils a year and has been in business for over two hundred and fifty years.
This is such a rich video for classroom use - what is the marginal cost of a pencil? What is the importance of human capital to the value added process? What internal economies of scale might a business such as Faber-Castell utilise? How significant are family businesses to the wider health of the German economy?
- Economics
- Blog
- Enrichment
- Human capital
- Manufacturing
- Craft manufacturing
- Economies of scale
- Germany
Geoff Riley
Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.
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