Touch the screen of your mobile device or use the mouse of your desktop to collect as many coins as possible in three rounds without getting stuck. I bet you can't score 50,000. When you finish playing, learn more about the economic concepts in the game with the No Bull Economics videos below. Good luck!
Round 1 has to do with markets and the Laws of Supply and Demand. This video discusses the important relationships between price and quantity, why the demand curve downward sloping, why the supply curve upward sloping, how to identify a temporary surplus in a market, how to identify a temporary shortage, and how a market will respond to a surplus or shortage. Click here to learn more about markets and economic models.
About Profit Maximization - Round 2
Round 2 mentions the profit-maximizing rule for a firm that produces in a competitive market. This video discusses the costs of production for a firm, cost curves, the MR=MC rule, and more. Click here to learn more about profit maximization in all of the market structures.
About Labor Markets - Round 3
Round 3 references how a firm maximizes profit when hiring labor (or any type of economic input). This video goes over the role of marginal revenue product and marginal factor costs in a perfectly competitive market for a resource. For the effects of a minimum wage - a type of price floor - click here.
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