Kevin needs to get a pair of sneakers for his son, but only Nick has any around. Even though he hates Nick, he feels like he needs to pay big money in order to secure a pair for his son. By choosing to limit the number of shoes available, a shortage exists for the sneakers. Only toward the end do we learn that a black market dealer may have access to another pair of shoes.
Thanks to Ryan Welch for the clip!
Maggie (Bailee Madison) negotiates a deal with Danny (Adam Sandler) when he asks her to act like his daughter. This scene does a great job opening a discussion for consumer/producer surplus in a principles class (or economic rent in a labor class).
The neighborhood dog has been a bit of a bother for the Heffernans, but they may have come to a solution through private bargaining.
I was watching Parks & Rec with a friend one night and came across this great clip that showed market power of monopolies. Ron & Co. originally reserved 22 white vans from the local rental company for Leslie’s campaign. Right before voting day, the rental agency opted to rent the vans to someone else. A negotiation ensues.
This was a great commercial from US Bank, which I use to talk about externalities and transactions costs.