notanactualfairy (![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png)
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fandomhigh2009-01-12 06:09 am
notanactualfairy) wrote in fandomhigh2009-01-12 06:09 am
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Business 101, Monday [1-12] First Period
"Good morning!" Jean-Paul said to his students. "I thought of bringing you coffee, but if I have to suffer, why should you not?" That said a lot about Jean-Paul, really. "Today, we are going to talk about economics.
"Specifically, scarcity, and supply and demand. Now, supply and demand is a means of determining price; if there is more supply of something than there is demand, the price will be quite low--as in the current housing market. If there is more demand than supply, the providers can demand a high price. This is a state of scarcity, when there is not enough of something to meet everyone's wants and needs. In business, particularly in entrepreneurship, this is good. This is a niche you can exploit. If there isn't a decent version of a product, make it yourself. If there are not enough houses to meet demand on the beach in Florida, buy the land, build more, sell them at a profit. Just get out before the hurricane season, for the love of God, but we will cover knowing when to get out in another class.
"Your assignment today is to brainstorm services or goods that might be in demand or scarcity on Fandom Island, and discuss what you can do about it. Since there are so few of you, breaking up into pairs would be counterproductive; we will round-table this class. Everyone can talk to everyone else. Begin.
"Specifically, scarcity, and supply and demand. Now, supply and demand is a means of determining price; if there is more supply of something than there is demand, the price will be quite low--as in the current housing market. If there is more demand than supply, the providers can demand a high price. This is a state of scarcity, when there is not enough of something to meet everyone's wants and needs. In business, particularly in entrepreneurship, this is good. This is a niche you can exploit. If there isn't a decent version of a product, make it yourself. If there are not enough houses to meet demand on the beach in Florida, buy the land, build more, sell them at a profit. Just get out before the hurricane season, for the love of God, but we will cover knowing when to get out in another class.
"Your assignment today is to brainstorm services or goods that might be in demand or scarcity on Fandom Island, and discuss what you can do about it. Since there are so few of you, breaking up into pairs would be counterproductive; we will round-table this class. Everyone can talk to everyone else. Begin.
OOC