This short economic video about opportunity cost follows Gary, a broadacre wheat farmer with a dream to see the Kiss farewell tour. Gary’s business is booming, and he’s ambitious about expanding his operation. He’s been contracting out his harvesting each season, but this year he’s hoping to save on that […]
This short economic video on helping to avoid sunk cost follows Pete, a broadacre farmer who is wanting to have a good harvest this season, but grain prices are low. Pete believes prices might improve in the future. He decides to purchase grain storage and pays a $20,000 deposit. However […]
This short economic video about diminishing marginal returns follows George, a broadacre wheat farmer with a dream to buy a helicopter. But that dream depends on getting the most out of this season’s crop. Watch below to see how George considers how much fertiliser to use.
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This short economic video about understanding risk follows Steve, a broadacre wheat farmer with a dream to see a snow leopard. However, he needs to increase his profits significantly next season if he’s going to make it to the Himalayas. He believes it might be worthwhile taking a chance on […]