Learn Economics When You Buy Your Next Cup of Starbucks Coffee!

Economics is a social science that enables the students to learn about the optimum use of goods and services by appreciating the commercial value that those goods and services produce. It is not just about the buyer side bargain but also about the seller side bargain.

The pizza outlet that delivers pizza for free - already charges you a premium price for the pizza! All those pizza orders at discounted prices during happy hours actually make the most money for the pizza company! The cab driver although agrees to wait till you finish your work and come back and rent the cab again - does not spend anything on gas while waiting, but charges you for the waiting time. In that time, the cab driver may or may not find another customer but the bargain is that “I am sacrificing a new customer by waiting for you, and hence you owe me the waiting time”.

It is not a norm to follow everyday finance related events such as renting a cab or ordering a pizza. Now, how are these events relevant to the subject of economics? A cab rental service that charges you as per the tariff but still accepts a tip, or the pizza outlet that affords to deliver pizza at your doorstep for no extra charge - they are all learning their lessons in economics. Students should learn from these everyday events by observing the buyer side bargain as well as seller side bargain. The thing is we only learn more about the buyer side bargain but we never take the trouble to find out what really goes on in the seller’s mind.

You can also learn economics when you buy a cup of starbucks coffee. Here is how: Ever wondered why you can always hang out in a starbucks or a similar coffee shop for several hours? Similarly, you can always spend plenty of time in the shopping mall. What is the mall owner or the coffee shop owner getting out of it? Firstly, when you buy a cup of coffee in Starbucks it costs you 5 times more than the coffee you buy in a regular hotel. Secondly, when you hang out in a mall it is not just the shinning colors of apparel that you observe and take home – you go home with a desire to buy one of those dresses or that latest mobile gizmo gadget! You are being sold something every time you visit the shopping mall and you buy it without asking a single question. This is the 21^st century commerce and these experiences can teach you a lot about economics.

An economic assignment based on pricing theory, to be completed over the weekend, comes as a surprise to the student. But the students need not be bothered by homework demands from the college.  It is time to apply the practical knowledge in theory. Economic assignment help is available online as expert tutors are willing to share their practical knowledge. Learning economic theories will not be difficult because expert tutors will make it simple for the students. All that the pupils are required to see is that, in economics for every law or theory there is an event, and an equally effective impact of that event. The expertise lies in the pupil’s ability to study this impact. For instance, an epidemic of cow disease will result into a fall in the prices of red meat or the whole swine flu episode that lead to the drop in prices of chicken. Online tutors for economic assignments can teach students by sharing with them the lessons they learnt from real life.