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Description
The story covers three days in the life
of the young Max. On the first day,
Max and his Mom visit Marge’s
Ostrich Burger pushcart. Max orders
a lot of burgers, and each one he
eats is less enjoyable. On the second
day, Max returns to the Ostrich Burger
pushcart with his mom. Max is able to
choose from a number of “lunch box”
choices, all a combination of Ostrich
burgers and Ostrich nuggets. On the
third day, Max returns again to the
Ostrich Burger pushcart, this time
without his mom. Max was given money
to buy lunch, and he must figure out the
best way to spend his money. This story
demonstrates the concepts of utility,
diminishing marginal utility, indifference,
budget lines, and purchasing power. |
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The Forces of Demand
Story
Audio Transcript
Day One
Max:
I'm really hungry. I could eat a bunch of burgers.
Mother:
Get whatever you want, dear.
Max:
Oohhh Boy! I'll have five burgers!
Marge:
Enjoy your lunch!
Mother:
Don't eat so fast Max, you'll upset your stomach.
Max:
(with mouth full) Yes mother...
Mother:
And don't talk with your mouth full!
Max:
Yes mother. (Burps)
Mother:
Maaxxx!
Day Two
Max:
Are we eating at the Ostrich Burger cart again today?
Mom:
Yes dear, but you can get other things besides burgers.
Max:
Like what?
Marge:
Well, I have several specials today.
Marge:
Lunch number one has 4 burgers and 2 nuggets...
Max:
(Max's expressions communicate the relative ranking of preferences) Hmmm…
Marge:
Lunch number two has 2 burgers and 4 nuggets...
Max:
Mmmmm…
Marge:
Lunch number three has 1 burger and 2 nuggets...
Max:
Nahhhh…
Marge:
Lunch number four has 4 burgers and 8 nuggets...
Max:
Yeah!
Mother:
He'll have special number two, please.
Marge:
Enjoy your lunch!
Day Three
Mother:
Now don't lose that ten dollar bill!
Max:
OK Mother!
Max:
Mmmm, I'm hungry!
Marge:
What would you like today, young man?
Max:
Gee, I never had to think about prices before -- Mom always got me
whatever I wanted.
Max:
Well, I’m really hungry, and I've got $10 to spend. I wonder what’s the best way for me to spend it?
--End--
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