Intro to Economics
Original Content Publication Date: 06/26/2017
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).
- 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
- 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?