The Economics On How On Cake It Essay

The Economics On How On Cake It Essay

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The Economics on How To Cake It
How To Cake It is a YouTube channel that shows the steps taken to create cakes that do not look like cakes (they often times are made to look like other foods). This show relates to the ideas of economics in many ways. The first few ways are focused on how people make decisions.
In the show How To Cake It every week they create a different themed cake. They make
this choice each week based on suggestions in the comments of the previous videos. Their team must then choose from the top two suggestions and choose the theme they’d like to do for that week. (People face trade offs) #1.In order to make the majority happy they generally pick the theme with the most votes. The viewers who voted on the winning theme are satisfied, however this also means that viewers who voted for the losing theme are not satisfied and the show could potentially lose subscribers. (The cost of something is what you give up to get it) #2. Knowing that it is impossible to please everyone they try to please the majority in hopes that they will gain more than they lose. Doing popular themes is a good way to get new people watching, and although it is possible to lose subscribers they gain more subscribers daily than they lose with this method. (Rational people think at the margin) #3. Another method they are using to gain subscribers is called “It takes two” where a current subscriber tags a non subscriber in the comments and once they are both subscribed they have a chance to win specialty tee-shirts made by the How To Cake It team. This has been a very successful method, and they have almost doubled their subscribers just by providing a simple incentive. (People respond to incentives) #4.
How To Cake It relates well to econom...

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...hinery to bake the cakes, such as a bigger oven. (Investment) #11. They have many other tools that help them produce their cakes, such as pans, mixers, silverware, and many more that make the process more efficient. (Physical Capital) #12. They also have a staff of highly educated professionals, Yolanda is the host and she is great at baking cakes and has acquired her skills through years of school and training.(Human Capital) #13. They also have a technical crew with years of training as well, they are important to the show because they help find the most efficient ways to increase the productivity. (Technological Knowledge) #14. In the future How To Cake It hopes to make stores not only in the United States but also in other countries as well. They predict that they will be able to open stores in foreign countries within the next few years. (Direct Investment) #15.

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