Something Wall-Mart This Way Comes
Media Type: TV Clips Topic: Supply & Demand, Incentives, Pricing, Elasticity, The Firm
- Dig This?
-
Like it? Share it!
Tweet
South Park
Click here to watch this clip.
Something Wall-Mart This Way Comes spoofs Wal-Mart for the closures it creates among small local businesses and the changes in consumer shopping behavior. The reason for both of these changes is the price elasticity of demand. Wal-Mart's lower prices drive consumers to its stores. If price didn't matter, smaller local shops with somewhat higher prices but more knowledgeable staff would be able to compete. But since price does matter, a new Wal-Mart is a big threat to existing stores.
(Clip suggestion provided by: Michael Jetter, Ph.D, Department of Economics, Universidad EAFIT)
Available on iTunes Available on Amazon.com- Your Thoughts
- Was this helpful to you? (5 votes)
- Tags
- Related Content
-
-
- Ain't No Rest for the Wicked
- no free lunch, pricing, price elasticity
-
- Rockstar
- wants and needs, incentives
-
- For the Love of Money
- incentives, social commentary on money
-
Ask Dirk Now!
Students, got an econ question?
- Who's Dirk?
- More on the man, himself. Meet Dirk
- Econ Media Library
- Check out multimedia tools, videos and more in our Media Library
What People are saying...