Economic Lesson for 4 Graders

July 21, 2013

Jib had been craving for popcorns since last night. And he was bummed to know that since he is fasting, he couldn't munch on popcorns while watching Despicable Me. But turned out we got the 5 o'clock session, meaning we would break the fast inside the theater. So Oki went out to buy some popcorns and other snacks right before Maghrib. Jibran was so excited and gobbled the popcorn for the first few minutes, but he didn't finish it.

Before we watched the movie, Jib said he wanted to eat Yoshinoya, so that's what we did. Upon finishing his food, he realized that I buy some for takeaway too for sahur. And he was like blahhh.

Then he asked me that why is it every time he wants some food, that food looks sooo appealing, but when he eats it and especially after he finishes it, the food just doesn't taste as good anymore. :D

I told him some times I feel the same way too. It's called the Law of Diminishing Marginal Utility. The more you consume/buy, the less satisfied you will be. The last bite won't taste as good as the first bite. It took me an economic class in college to learn about that :D. Now if only I know how to apply the concept in other parts of life.

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