Transcript 3. What are some examples of capital they used to help them

ExploreUnderstanding how our
economy works
Why don’t
cookies
cost $100 a
bag?
Think About It:
What determines what people buy and
what they are willing to pay for it?
The Hula Hoop: A True Story
Watch the video
clip. When it
finishes, be
prepared to answer
some main idea
questions.
http://www.youtube.com/watch?v=Ng3XHPdexNM
Think About It:
1. Why does the business owner
lower the price when the hula
hoops are not selling quickly?
2. Why did the business owner raise
prices?
3. What does an increase in price for
a product communicate to
consumers about the demand for
that product?
1. Supply
The amount of a good or
service available.
2. Demand
The desire to obtain a
good or service.
3. Capital
Any human-made object that is
used to make other goods or
perform services
EX: tools, brochures, money
computers, machinery, etc.
Think About It:
What happens to the price when…
Supply is high,
demand is low?
Ex: Old model
I-Phones
Supply is low,
demand is high?
Ex: The newest
I-Phone model
SpongeBob SquarePants:
“Chocolate with Nuts”
A case study in economy
As you watch the episode, answer the
questions on the handout. The
questions do go in order.
 http://cartoons8.co/watch/1533/spongebob-squarepants1999/episode-19b-spongebob-squarepants-chocolate-withnuts

Or
 https://www.youtube.com/watch?v=Ke_aDPQNgPY
1. Spongebob received a magazine in the mail.
What did he mean when he said,” How do these
people achieve a higher standard of living?”
2. What is an entrepreneur? Who are the
entrepreneurs in the episode?
3. What are some examples of capital they used to
help them become better salesmen?
4. What are some ways they tried to raise demand
for their product?
5. What are some problems they encounter along
the way?
6. How could SpongeBob and Patrick have
improved their business?

lies that chocolate can do: ◾Make you live longer.
 ◾Makes your hair grow (A bald Fred says "Great! My wife's trying to
grow a beard!).
 ◾Makes you sound smart (Hillbilly Fishkin says "I'll take 20!").
 ◾Keeps your face from getting any uglier (Said by Patrick to a man
who looks identical to him and says "Just in time!").
 ◾Makes you fly.
 ◾Makes you fall in love.
 ◾Brings world peace.
 ◾Gives the ability to walk through walls.
 ◾Makes you rule the world.
 ◾SpongeBob and Patrick are injured and in dire need of an
operation to the rip-off artist.
 List of things SpongeBob and Patrick bought in the
episode:
 The Chocolate from the Barg'N-Mart
 Candy Bar Bags
 Candy Bar Bag Carrying Bags
 The Copies of the guy's photo
 The Chocolate from the guy
 The Diner at Fancy!
 Possibly the outfits that they were wearing at Fancy!
 Possibly a meal at the Diner.