Superstore — Flu Shot Equity

Jonah’s helping out in the pharmacy, but there’s only one flu shot left. The actual pharmacist isn’t much help, so Jonah has to decide who deserves the last flu shot available for the day. Many of the customers are unwilling to drive to a nearby store or come back the next day, and each make an important point about who “needs” it the most. Should the last flu shot go to a pregnant woman, a kindergarten teacher, or the man who was next in line? Rationing can often lead to equity issues when trying to decide who is more deserving of a limited item.

 

Chris Young — Beer or Gasoline

Tradeoffs are one topic you can use this video for. With only $3 to his name, Chris needs to decide between a gallon of gas or a 6-pack of beer!

Thanks to James Tierney for the clip and description. For more country videos with economics, check out EconGoneCountry!

NPR Planet Money — The Price Tag Hasn’t Always Existed

Really neat summary of the history of the price tag. This could make a great opening for a principles course or a good example of price discrimination before the price tag was invented. The price tag can be used as an example of the Quaker’s insistence on the law of one price or the idea of efficiency/equity tradeoffs. I like to use this video in the beginning of my course to introduce the idea of prices, values, and costs.

Straight Talk — “Free” Phone

Have a friend who brags about things they get for free? One of the common components of long-term contracts is that it includes a phone, but the price of the phone is often just built into the contract so the phone isn’t really free.

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