Live the economics through our daily lives.

Circus artists/performers performing in multiple cities/events

Have you experienced/seen the circus/performers performing in your area or locality?

Have you seen the same circus is organised in another city or locality?

These are the questions come in our mind?

Do you know why?

As per economics prospective, we see that utility plays a vital role here.

This is because of due to Law of diminishing marginal utility.

When we consume same goods and services again and again then the utility we are getting will decrease. Similarly, the utility or satisfaction level of audience of the circus will decrease by watching the same circus/performers again and again. So that the circus artists/performers performing in multiple cities.

Lot of unseasonal price fluctuations happen in vegetables.

We all have experienced that the prices of vegetables fluctuate?

Do you think why?

What is the economic concept here?

As we go to the market we bargain for the vegetables price every day, either it is seasonal or unseasonal vegetables. We have seen the fluctuation/variation in the prices of vegetables.

This is because of elasticity of demand.

%change in demand with respect to %change in price. If there is some change in price of the vegetables, then there will some change in demand also.so the fluctuation arises in the price.

Some hotels offer diverse menu both depth and breadth whereas many others offer very few items on their menu

Here we see the paradox of choices,ae we also go to the mall we have seen the various products on a particular segment just like oil,if you go to buy hair oil or soap you see the paradox of choices.

so as per economics people face trade offs.

when we go to the hotels they also provide us their particular segments on their recepies and we face trade offs.

young men and women fancy themselves to participate in beauty contests

young people fancy themselves to look good this is the idea came in our mind but when we look as per economics prospective here factor of demand will play a vital role.

they look good to get the demand factor for themselves.

supply curves for live musical performances

supply curves for live musical performances are constant because their time is schduled ,if the program has to live for 9am to 5pm.supply of the musical performances are always constant.