EconGoneCountry

Supply and demand with a twang

Title: Beer or Gasoline

​Artist: Chris Young

Economic Concepts: Trade offs; Opportunity cost; Money; Medium of exchange; Unit of account; Inflation; Escalator clause; Nominal vs Real  

Details: Life is full of choices and "Beer or Gasoline" by Chris Young is a great example of this.  If you have limited wealth, income, or money then you often must decide which items to purchase even if you'd love to have both.  "Hell it ain't no fun, to do without one…it's a tough choice to make if you know what I mean.  It's either beer or gasoline."  Opportunity cost must be considered when making the decision, and ultimately the man decides the opportunity cost of the gaoline is too great, "I could see where this is headed and I'm tired of talkin'.  Cold beer unleaded, hell I'm walkin'".  

Other economic concepts found in the song relate to money as a medium of exchange and a unit of account.  Obviously money is used to purchase goods and services, such as beer and gasoline, but it also provides a measuring stick for consumers to compare value.  In this case, both the six-pack of beer and a gallon of gasoline cost
$3, illustrating their equal value.  "Makes life complicated when it costs the same". 

Finally, inflation causes the purchasing power of a dollar to gradually erode.  Since the song was released in 2006, you can have your students calculate whether beer and gasoline are 
cheaper, more expensive, or cost the same in real terms today.    

Lyrics: 
Two dollars shy of a five dollar bill
Last mile I pushed my truck uphill
About hurt me
I left my truck by the pump right where I parked it
Walked through the doors of the Last Chance Market
Have mercy, I was thirsty
The guy behind the counter said what's it gonna be
I said I don't know man, you tell me. 

It's a gallon of gas, or a cold six pack
One goes in my tank, one comes in a sack
Makes life complicated when it costs the same
Hell it ain't no fun, to do without one
But I'll do a lot of walkin' if my motor don't run
It's a tough ol' choice to make if you know what I mean
It's either beer or gasoline. 

I could feel that video camera watch me
Checkin' out the sale on the ol' Milwaukee
(Mmm) Three bucks to my name
That cooler had every brand known to man
Tall boys, bottles, and aluminum cans
(Aww) What a shame
And it's gettin' pretty bad when you finally discover
It all comes down to either one or the other.  

It's a gallon of gas, or a cold six pack
One goes in my tank, one comes in a sack
Makes life complicated when it costs the same
Hell it ain't no fun, to do without one
But I'll do a lot of walkin' if my motor don't run
It's a tough ol' choice to make if you know what I mean
It's either beer or gasoline. 

I could see where this is headed
And I'm tired of talkin'
Cold beer unleaded
Hell I'm walkin' 

It's a gallon of gas, or a cold six pack
One goes in my tank, one comes in a sack
Makes life complicated when it costs the same
Hell it ain't no fun, to do without one
But I'll do a lot of walkin' if my motor don't run
It's a tough ol' choice to make if you know what I mean
It's either beer or gasoline.    

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