Cady sings that “more is always better,” which is something that is typically assumed in economics. This is not always the case though, as the law of diminishing marginal utility stands true.Learn about the Law of Diminishing Marginal Utility, utility, and bads in this clip! Discussion Questions for “More is Better”
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Satine is the “sparkling diamond” in Moulin Rogue! Satine sings of the value that diamonds have in her life, as they are better than men, along with other things. The value of diamonds is something that has been discussed for centuries. Learn about the water-diamond paradox in this clip! Discussion Questions for “The Sparkling Diamond”
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There are many items with inelastic demand- in this case, it’s the Squip. The squip is a pill that people take to help them “be more chill”. If Jeremy wants to “be more chill,” like his friend, he must pay the high price. Learn about inelastic demand and price sensitivity in this clip! Discussion Questions […]
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Leo Bloom is an accountant- a job that he and his coworkers all find fairly boring. Leo has a dream of quitting his job and being a producer on Broadway. There are costs and benefits that Leo faces in each of the two fields. Learn about Labor Economics and Compensating Wage Differentials in this clip! […]
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Harvard Law Students are learning about what it takes to be a lawyer- and how they must act if they wish to be successful. Some students want to have fulfilling careers, while others don’t mind being “sharks” and looking for the “blood in the water”. Learn about Labor Economics and Compensating Wage Differentials in this […]
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& Juliet takes place before Romeo and Juliet had been performed. Anne Hathaway and William Shakespeare are discussing the ending of the play; Anne thinks that Juliet should live a fulfilling life and William’s ending is quite different. Learn about wants, resource allocation, constraints, and maximizing utility in this clip! Discussion Questions for “I Want […]
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Beth and Stephen are New York City planners. They dream of making the city a better place to live through creating plans, rules, zoning restrictions, etc. Many other cities across the United States and around the world hire economic city planners; however, there are some critiques of the actions of government economic planners. Learn about […]
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Arthur and his coworkers at the shop discuss what they would do if they had some “Money to Burn”. Of course, they all would like some slightly different things due to different preferences. Learn about preferences, as well as GDP and its components (Consumption, Investment, Government Expenditure, and Net Exports) as the shop workers discuss […]
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When emergency strikes on September 11, 2001, a community steps up to help. There are several hundred people need assistance through a place to stay and essential supplies, which increases the demand for many goods! Learn about principles of demand and supply, as well as what the shop owner does to help alleviate the increased […]
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Barbara and Adam are in their attic looking over their belongings. Barbara first realizes, followed by Adam, that they no longer get the same enjoyment from these as she once did. This can be explained using the principles of tastes and preferences as well as an introduction to utility, which will be explored in this […]
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