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Consumer Choice & Behavioral Principles Supply & Demand

Consumption vs. Savings

Bo and Cheyenne are shopping for wedding supplies in the store. Bo really wants to buy some laptops so they can smash them during the wedding as a form of entertainment. Amy is shocked because she knows how expensive it is to raise a child and believes that the couple should be saving the money instead of spending it on one day. Amy tricks Bo into playing a game with a price gun so that Bo and Cheyenne can see how expensive a child can be. People struggle to recognize the opportunity costs in their decisions, but Amy has made the cost more salient.

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Supply & Demand

Unnecessary Bean Hopper

In order to win the Color Wars, teams have to sell as much as they can. Jonah doesn’t feel comfortable with the premise of this competition, even when the customers explicitly state that money isn’t a consideration in their purchase decisions. The coffee maker with the built-in bean hopper isn’t really necessary (which Jonah points out), but the customer is displaying some conspicuous consumption behavior.

Categories
Supply & Demand

Talked Into Buying a Grill

Jonah convinces Adam (Amy’s husband) to buy a new grill even though the couple doesn’t really need it. Earlier in the episode, Amy convinced Jonah to start selling stuff to people even if they don’t need it so they can win the store’s Color Wars. Adam and Amy don’t really have the savings to afford such a lavish purchase, but Jonah emphasizes how great the grill would be for Adam’s YouTube channel.