Ron and Leslie meet for lunch to settle a bet, but not before Ron extolls the virtues of capitalism and competition in the free market. Leslie, of course, disagrees on the role of government because she recognizes that not all services can be provided private enterprise.
See more: capitalism, competition, externalities, free market, government, public economics, public goods, role of government
Chris isn’t feeling so well, so Ann tries to cheer him up with shrimp. Diminishing utility kicks in as Chris realizes the second shrimp isn’t as tasty as the first.
Credit: Caitlin Lee (@_caitlinnlee)
See more: diminishing returns, utility
While Leslie Knope is running for city council, the Parks Department needs to get a lot of vans to help people get to the polls. A local van rental company realizes they have a monopoly over the market for these white vans and this recent surge in demand has given them the opportunity to capitalize.
See more: bargaining power, bidding war, demand, demand shifts, imperfect competition, market power, monopoly, rent seeking, supply
Economics of Parks & Recreation 