As you may know, April the Giraffe had her Mini-me last weekend as reported by the Tampa Bay Times. There is now a contest; the zoo is charging $1.00 per entry to name the baby. Animal Adventure Park is a small zoo located in Harpursville N.Y. and they are struggling with balancing the social media attention and preparing for the zoo's opening on May 13. So they made the decision to cut the live feed on Friday. Animal Adventure Park posted on their Facebook that they will have updates on how to watch the baby next week and noted that they will also post on the April the Giraffe website. According to the New York Times, the April the Giraffe sensation has created a flood of media attention. Will this translate into an economic boost for the area? Predict the economic impact. Then read the attached article from the New York Times. What economic impact do they expect in nearby Binghamton, a former manufacturing mecca, which has fallen into financially hard times?
Now use the decision tree to examine the costs and benefits of the decision to take down the feed. Consider scarcity. What happens when resources become scarce? The zoo is opening on May 13. Do you think more people might come to the zoo if they can't see the live feed? You can also use the decision making tree to consider a trip to the zoo or another facility that has giraffes. How will you have to change your budget if you want to take a family trip to the zoo?
SS.8.FL.2.5 Discuss the fact that people may revise their budget based on unplanned expenses and changes in income.
SS.912.FL.2.1: Compare consumer decisions as they are influenced by the price of a good or service, the price of alternatives, and the consumer’s income as well as his or her preferences.
Deborah Kozdras, Ph.D.