Doing laundry as a household activity can be viewed as a production process with various steps and inputs. These include electricity, water, soap, fabric softener, and human labor. The steps involved include reading labels, sorting, picking the appropriate detergent, temperature and cycle, loading and unloading the washer, loading the dryer, hanging and folding. As a production process, doing laundry myself presents a significant opportunity cost present in the savings. By doing it myself, I manage to save money I would have used to pay someone else to do it for me, thus the opportunity cost.
When applying the law of diminishing returns to the doing laundry, it is necessary to be keen on the resources directed towards the activity. As Michel (2016) identifies, the ratio of input and output towards a particular economic activity can never be constant. It means that I need to limit the number of resources including detergent, water or electricity that I use in finishing the activity. Increased resources will not mean that my returns will be increased but rather limiting and optimizing the resources I use means that I will reap as many returns from the activity. Further, changes in technology will also affect my returns from the activity.
Çalışkan (2015) identifies that advancement in technology means that costs will be reduced while increasing productivity and gains. It means that technology will play a significant role in ensuring that the resources I channel into the activity reduce significantly while increasing the level of productivity and gains from doing laundry. It means that technology will present the opportunity to do more laundry in short periods with reduced resources and labor while increasing the overall profits compared to before the use of technology. Technology and the diminishing returns law will be useful in improving my total returns.
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