Economic Values in Willy Wonka in the chocolate Factory
Economic Values of Willy Wonka
The Economic Purposes in Willy Wonka and the chocolate factory are the 7 principles of economics. In this classic film the 7 principles of economics play out many times. A few of the principles that show up in the movie are scarcity forces trade offs, supply and demand, and trade makes people better off. Willy Wonka's time setting is set in era of depression. The overall story is about a boy growing up in the depression in a poor family. A competition comes to town and charlie is choosen. Here the movies takes more of a business approuch resulting in the representation of a chocolate factory here the monoplolist willy wonka takes the kids on a journey through his business/factory. Charlie discovers that future consequences count.
An example of Scarcity forces trade offs in the movie would be the women on the telephone with the criminal she is confronted with a delema when she has to make a trade between her husands life and her precious chocolate bars which are in short supply. This also ties close to opportunity cost. Opportunity cost is the choice u wouldve choosen if you haven't choosen the choice that u chose. Another example of this would be when charlie gives up his money to help his family out instead of waste his hard earned money on chocolate like the rest of the children who are more well indowed.
Another principle involved in the movie would be Supply and demand though this priciple is more broad in the movie. The basic supply of chocolate to the demander which is the consumer or the children and people of london. There's a short large supply of chocolate and a short supply of golden tickets thus people want to buy more chocolate to further there chances at getting a golden ticket. An example in the movie is when the teacher is talking about fractions with the class and asking them how many chocolate bars they bought, and statistics show the more chocolate bars they bought the higher there percentage got. Which leads to the markets coordinating trade. Markets Coordinate trade is when industries control trade between the supplier and the consumer. In the movie this is done by the candy shops selling chocolate to the community the head supplier would be willy wonka and the markets that coordinate his trade are the candy shops that supply chocolate for the little kids.
Trade makes people better off is another principle invovled in Willy Wonka and the chocolate factory. An example of this would be in the movie when charlie gets bribed from slugworth to discover the secret to willy wonkas everlasting gobstoppers, slugworth offers charlie money for a secret to a candy recipe this trade makes people better off. This is what leads to Liabilities. Willy wonka makes the kids sign a contract in the begining that way he's not liable for accidents in his factory, this makes willy wonka buisness smart.
The last and probabaly biggest important principle in willy wonka is future consequences count. In the end of the movie charlie decides to give willy back his everlasting gobstopper and in return this decision alters charlies overall benefits, charlie receives the factory as a token of appreciation. This business trade off also ties in the Factors of Production which are land labor and capital. The umbaloopas were the labor, the factory was the land, and the chocolate was the capital. All of these princples contributed to the economics found in willy wonka in the chocolate factory. So remember even chocolate has an economic value.
These ideas stated are merely thoughts or opinion of the economic values in the movies Willy Wonka and the chocolate factory.