Week 5

We talk about Value Exchange and how the value of things change for us and/or society in different circumstances.

The most interesting point from this class was when Cris showed us a diagram that shows the “Marginal Theory of Value.” He explained that because there is so much water it is not expensive however as the access or amount of water decreases the price is increased, it has a “Utility Value,”  a slightly different value profile to something like diamonds.

We also had a discussion on the experience economy. Extract Commodities -> Make Goods -> Deliver Services -> Stage Experiences. We used a diagram that Cris gave us to write out different answers for each step for different products or industries.

We then had a really great open conversation as a whole class about our Eccomerce site we are currently building. This was really helpful as I was abit confused on where this project was going.

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