Economics @ ITT

Supply and Demand?

Posted in economics, employment, Humour by ittecon on October 14, 2011

A humourous commentary on supply and demand economics…

The conversation goes like this:
    • Customer: $15 bucks a glass?
    • Calvin: That’s right! Want some?
    • Customer: How do you justify charging 15 dollars?
    • Calvin: Supply and demand.
    • Customer: Where’s the demand?! I don’t see any demand!
    • Calvin: There’s lots of demand!
    • Customer: Yeah?
    • Calvin: Sure! As the sole stockholder in this enterprise, I demand monstrous profit on my investment!
    • Calvin: And as president and CEO of the company, I demand an exorbitant annual salary!
    • Calvin: And as my own employee, I demand a high hourly wage and all sorts of company benefits! And then there’s overhead and actual production costs!
    • Customer: But it looks like you just threw a lemon in some sludge water!
    • Calvin: Well, I have to cut expenses somewhere if I want to stay competitive.
    • Customer: What if I got sick from that?
    • Calvin: “Caveat emptor” is the motto we stand behind. I’d have to charge more if we followed health and environmental regulations.
    • Customer: You’re out of your mind. I’m going home to drink something else.
    • Calvin: Sure! Put me out of a job! It’s you anti-business types who ruin the economy!
    • Calvin: I need to be subsidized.

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