From the Econ Song Book: Old Tunes with an Economics Twist!

POSTED: December 20, 2013 | BY: kwilliams

A Term of Econ From the Econ Song Book: Old Tunes with an Economics Twist!

On the first day of Econ my teacher’s voice did ring,
A free lunch—there ain’t no such thing!

On the second day of Econ my teacher’s voice did ring,
Raise prices—they’ll buy less,
And a free lunch—there ain’t no such thing!

On the third day of Econ my teacher’s voice did ring,
Sunk costs are sunk,
Raise prices—they’ll buy less,
And a free lunch—there ain’t no such thing!

On the fourth day of Econ my teacher’s voice did ring,
Margins are what matter,
Sunk costs are sunk,
Raise prices—they’ll buy less,
And a free lunch—there ain’t no such thing!

On the fifth day of Econ my teacher’s voice did ring,
Markets will clear,
Margins are what matter,
Sunk costs are sunk,
Raise prices—they’ll buy less,
And a free lunch—there ain’t no such thing!

On the sixth day of Econ my teacher’s voice did ring,
Diminishing returns,
Markets will clear,
Margins are what matter,
Sunk costs are sunk,
Raise prices—they’ll buy less,
And a free lunch—there ain’t no such thing!

On the seventh day of Econ my teacher’s voice did ring,
Time costs are real,
Diminishing returns,
Markets will clear,
Margins are what matter,
Sunk costs are sunk,
Raise prices—they’ll buy less,
And a free lunch—there ain’t no such thing!

On the eighth day of Econ my teacher’s voice did ring,
Incentives drive decisions,
Time costs are real,
Diminishing returns,
Markets will clear,
Margins are what matter,
Sunk costs are sunk,
Raise prices—they’ll buy less,
And a free lunch—there ain’t no such thing!

On the ninth day of Econ my teacher’s voice did ring,
Trade is beneficial,
Incentives drive decisions,
Time costs are real,
Diminishing returns,
Markets will clear,
Margins are what matter,
Sunk costs are sunk,
Raise prices—they’ll buy less,
And a free lunch—there ain’t no such thing!

On the tenth day of Econ my teacher’s voice did ring,
Tax, spend, and borrow,
Trade is beneficial,
Incentives drive decisions,
Time costs are real,
Diminishing returns,
Markets will clear,
Margins are what matter,
Sunk costs are sunk,
Raise prices—they’ll buy less,
And a free lunch—there ain’t no such thing!

Happy Holidays! Special thanks to Martha C. Hopkins, James Madison University, Center for Economic Education, Harrisonburg, VA.

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