Supply, Demand, and Equilibrium
Are your students Swifties? Capture their interest by using Taylor Swift to illustrate Supply, Demand and Equilibrium. Swift is so successful in generating demand for her products that her earnings exceed the GDP of some countries! The Swift effect even influences other sectors of the economy such as sports, travel, and digital streaming.
FREE Media Picks
Here are the latest selections from Texas teachers.
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1. Texas’ new power grid problem – Planet Money, 8 minute podcast
A new policy aimed at mitigating power outages may create the illusion of scarcity by decreasing supply in the market, and that would drive up the price of whatever electricity is left for people to use.
2. Oil prices and the Israel-Hamas war – Planet Money, 7 minute podcast
Historically, oil prices usually surge when there’s a conflict there. But right now, despite the Israel-Hamas war, we’re seeing the opposite — oil prices have fallen. What determinants of supply and demand are at work?
