Exercise 2.2- Economic Game



Diner Game is the best game to understand economics and the concept of opportunity cost.It explains you clearly the cost of buying one thing over the other and how you need to understand which thing your business needs the most at any given time to best utilize the resources and technology.
I almost spend almost 2 hours playng this game today and i think i will get back to it. In very simple form it explains you the concept of Scarcity, Opportunity cost, time management and effective use of right technology.
For example: I can have 10 servers in the fast food resturant but if there is not enough seating i will be overpaying the servers and loosing on revenue. Similarly i can have 10 seats but if i have only 4 servers i will loosing customers because of the wait.
It is very important to understand your market and make business decisions accourdingly. Hence the study of economics.