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 […]
