When I sit down to play a card game or video game, I generally try to just have a fun time and not think too much into it. However, there are some lessons I have learned during my experience playing games. One such lesson is the concept of supply and demand.
For example, let’s say I have been playing through a section of The Elder Scrolls V: Skyrim and have brought back a large amount of loot to sell to a vendor. The enchanted elven blade I found imbedded into a stone is worth a small fortune, while the iron sword I brought back is practically worthless. Why is that the case?
In this instance, it is supply that dictates the price. Since iron is an abundant material that many smiths know how to forge, there are a large number of iron swords in the world, thus the blade will have little value. By contrast, the techniques of elven smithing are a closely guarded secret, and the material to make elven weapons is rare. Therefore, the elven sword would be worth far more than the iron sword.
In addition, the elven blades are far superior in combat to iron, so there is a large demand for them among mercenaries and soldiers. Because so many people want the more reliable elven equipment, the shopkeepers around Skyrim are able to increase the prices. Even if most are unwilling to pay such high prices, as long as some people are able too, the price will never decrease.
Another example of these things can be seen in most trading card games, particularly in Magic: The Gathering. During my time playing this game, I witnessed large fluctuations in the pricings of cards online. One week a card would sell for twenty-five dollars, and next week it would be worth five. More often than not, this dramatic shift would occur around a set’s rotation.
For those who do not know, in Magic, you are not allowed to continually use the same cards in tournament play forever. As new card sets are released, the oldest card set currently usable in tournament play is generally banned and replaced by the new set.
When this rotation occurs, cards that were once highly sought after from the rotating set lose a large portion of their value. Since they can no longer be used in competitive play, there is no longer a demand for them from among the players, and sellers become unable to find people willing to purchase the cards at their pre-rotation price.
Had I not played these games, I am unsure that I would have such a firm grasp on the idea of supply vs demand. The amount that games have taught me is almost inconceivable, but I don't imagine I am the only one. Have you learned anything from video games? Let's get a discussion going down in the comments section below (that I assume/hope this article will have).
