The Economics of The Office
Learning economics from the world's best boss
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Garage Sale
The office holds a garage sale to get rid of things they no longer need. Meanwhile, Dwight starts with a thumbtack and trades his way up to a telescope. However, he soon parts with the telescope when Jim offers him something of seemingly even more value. This is a great example of how consumer preferences differ and how trade can make two parties better off. It also illustrates how effective marketing can shift an individual's demand curve to the right.
Season 7 Episode 19 "Garage Sale"
Microeconomic Behavior: Underlying Principles (D01) Trade (F10)
