Walmart — Negotiations

Each year, children collect their trick-or-treat goodies and then go about trading their candy with each other. This scene from a 2019 Walmart commercial illustrates the concepts of gains from trade, bartering, and mutually beneficial transactions. Each child only trades an amount they are willing to give up and aren’t forced to trade with each other. After the exchange, both are better off than they were before the meeting.

Thanks to Brian Lynch for the recommendation!

Trading a Paperclip for a House

 

Kyle MacDonald started with a red paperclip and ended up with a house. Trade and barter requires a double coincidence of wants, but Kyle was able to find people willing to give up something he valued more than his holdings. Mutually beneficial exchange makes both parties better off. This is a great clip to start the process of discussing why trading can grow an economy and why centrally planned economies are harder to coordinate.

Thanks to @AlcovyEconomics on Twitter for the clip!

Boss Baby — Gains from Trade

 

Tim doesn’t like green beans, but his baby brother sure loves them. Whenever the parents leave the kitchen, the boys realize there’s an opportunity for trade. The Boss Baby knows he needs a favor in exchange for eating his brother’s beans because he isn’t just giving away his services for free.

Thanks to Catherine Madrid for the reference!

Shawshank Redemption — Cigarettes as Money

In this short scene, Red pays an inmate to smuggle contraband with cigarettes. Cigarettes are used as money a lot in prison and it is shown throughout this film. This scene can be shown to talk about medium of exchange, commodity money, bartering, etc.

Thanks to James Tierney for the clip and description.

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