This is a song we made as a bonus project for my Economics class... A big thank you to Rhythm Rhyme Results for the Instrumental and inspiration!
Let Economics be the plant, and were starting with the seeds,
basically were all just trying to satisfy our needs.
Call it what you want, but at the end of every day,
incentives are important and they always lead the way.
Call it tit for tat, were trading this for that,
we all face tradeoffs, you now thats a fact!
Its just like Adam Smith, and the Invisible Hand,
trading is essential for supply and demand.
Deciding at the margin, is the best you can do,
lots of fundamentals, that you need to get through.
Learn to be efficient, make sure nothings ever lost,
always be alert of opportunity cost.
Markets always change, so you need to be aware,
understand economies, and always be prepared.
Crucial are the basics, that I wont deny,
so here we go.. the heart and soul, DEMAND AND SUPPLY!
Demand, supply, demand and supply,
its always been the reason economics is alive.
We work, we try, to sell, and buy,
Listen up.. Ill tell you how to survive.
Verse number two, now lets talk about demand,
knowing this is half of what you need to understand.
Theres a law, and a graph, and everythings legit,
just remember these words: marginal benefit.
Lots of things affect it, but do not be misled,
price is different cuz it changes quantity instead.
All the other factors, like income, time, and date,
can change demand, and others too, of this theres no debate.
Now we talk talk demand, or we can talk supply,
put them both together to get the economic pie.
While theory is important, practice is the key,
but whats the point on every graph, you really want to be?
Forget surplus and shortage, thats a rule of thumb,
the point we want to be at is the eq-uil-ib-rium.
'fits*, cost are even, productions moving well,
nobody can do better, so its time to buy and sell!
* 'fits = benefits