Lecture Highlights

COMING SOON! 🤩🤩🤩

🎉Our next block in the series: Block 2 Supply and Demand. 🎉

You hear Supply and Demand you think Economics there's no doubt about that!

Join us for another 5 highlights delving into the well known topic of Supply and Demand.

We hope 🙏🏼 our videos will challenge your current understanding of the fundamental key concepts of the topic and catapult you into new levels of economic enlightenment. ⚡

**Cue cheesy pun about Supply and Demand** 🧀🧀🧀

Let Lecture Highlights supply you with our Intuitive. Key. Concepts to meet you learning demands! 😉

Happy Highlighting!!!

Excited about buying your dream home 🏡 and then the survey reports problems...

😕What do you do next?

It's your dream home, you've already pictured how great your life will be. 💭💭💭

And you've already spent money on the survey.📝

💵Do you walk away or do you continue to buy?

Our decisions always involve head 🤕 vs heart ❤ choices.

LUCKILY economists deal in rationality and the heart 💔 doesn't come into decision making.

Watch our latest highlight on SUNK COSTS where Rob explains how to calculate the costs and benefits in relation to Sunk Costs. 🙌

The link to our YouTube channel is in the bio ☝️

Has a friend ever encouraged you to go the gym 🏋️ just to get your money’s worth from your subscription? 💵💰💵 Or told you to keep watching a terrible film 🎬📺🎬 just because you’re already half way through?

Economists give you a good response; Gym subscriptions and time already spent are Sunk Costs so it isn’t rational to take them into account for your future decisions 👍🤔👍

In fact, for any decision we should always ignore Sunk Costs (Costs we have paid and can’t recover) when making future decisions 💪😃💪

You wouldn’t stay on a sinking ship, just because you bought a ticket to get onboard 🚢🚢🚢

Sunk Costs are a key concept in Economics: Find out the implications for your decision-making and formal economic analysis with our next Lecture Highlight: Sunk Costs 🙌🙌🙌

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https://youtu.be/BkXXUA8L-aw

WHAT IS A SUNK COST? and Getting Your Moneys Worth. Rob explores what is a sunk cost? He explains using real life examples the definition of a sunk cost, the rationality of our decision making and how we can o...