EconGoneCountry

Supply and demand with a twang

Title: Diamonds & Gasoline

​Artist: Turnpike Troubadours

Economic Concepts: Opportunity cost;  Trade-offs;  Money;  Medium of exchange

Details: The main function of money is that it is a medium of exchange, allowing us to purchasing any good or service without having to barter and having a double coincidence of wants.  Money can be used to purchase an everyday commodity or a more precious and rare one.  "And I would buy for you a diamond or myself some gasoline". 

The other aspect of the song relating to economics, is the man's struggle and choice between staying single or settling down and getting married.  "And is it time I should be movin'?  Is it time I settle down?"  This trade-off can be used to illustrate the concept of opportunity cost.  For example, ask students what is the opportunity cost of settling down and getting married?   

Lyrics: 
Undercover
And blame it on the season
It ain't no kinda reason, baby
Why I come and go

I had a Lover
She felt as good treason
And you can't ask her if it's pleasin'
You can't ask the wind to blow

And I would buy for you a diamond
Or myself some gasoline
If I can't afford you darlin'
Then I can't afford to dream
And is it time I should be movin'?
Is it time I settle down?
Will I sit still or will I feel the wheels a-spinnin' 'round?

Well, I ain't the brightest
Bird that ever flew
I'm just someone you knew
A road you travelled on

All the colors
They shine and fade away
Well, they're just like New Year's Day
They're here, and then they're gone

And I would buy for you a diamond
Or myself some gasoline
If I can't afford you darlin'
Then I can't afford to dream
And is it time I should be movin'?
Is it time I settle down?
Will I sit still or will I feel the wheels a-spinnin' 'round?

Lord, I love ya
I wish you only knew
Well, I wish you had a clue
I wish you had a clue, you know

But I'm stuck here in Tulsa
With my Oklahoma blues
With a pair of concrete shoes
That got me sinkin' pretty low

And I would buy for you a diamond
Or myself some gasoline
If I can't afford you darlin'
Then I can't afford to dream
And is it time I should be movin'?
Is it time I settle down?
Will I sit still or will I feel the wheels a-spinnin' 'round?   ​​​​