Skip to main content

Intro to Economics

06/26/2017

Summary

Whether it's being used as an opener to an economics course or to briefly explain the concept, this comedic clip teaches supply and demand using simply the logic of a fashionista (end at 2:04).

Key Points

  • Where there is no demand for something the curve shifts down
  • That affects the supply curve which then goes up
  • The point where the two curves meet is "magic" or the optimal area

Discussion Questions

  • What products or services have you seen in your lifetime that have lost demand and are over supplied?
  • What are some ways you can think of to avoid over supply or low demand?

Link to full article