This quick economic review from the Professor’s perspective was basically a typical but symbolic reference which was meant to drive home the daily economic question and applications to some university students.
In his clear definition of the bidding while using the $ 20 note , the professor wanted to create some awareness of the need for preparedness for everyone just in case of any unexpected economic hiccups. He narrated the following as the measures which every student needed to be equipped with to become a better business entrepreneur:-
(a) Becoming resourceful / creative in times of economic crises
(b) Utilizing available resources
(c) Business is all about perseverance and being smart
Becoming resourceful/creative in times of crises:-
The professor gave an example of a fellow teacher who could not make ends meet with his meager salary and therefore came up with the idea of how he could maintain his job as well as look for some extra money for his up keep. He in turn invented a simple and precise manner of dealing with his poor economic status and thus by engaging in small but profit generating projects , managed to change or boost his total income.
Utilizing the available resources
While referring to this particular topic , the professor hinted how one can turn or utilize what they have in hand to get what they do not have. He emphasized on the need to focus and concentration.
Business is all about perseverance and being smart
The professor cited good business as nothing but sheer perseverance. As a mode of explanation, he touched on the way some of the male students easily gave in to the pressure and fear of loosing and elaborated on the need for understanding and concentration which are both crucial elements in winning and maintaining good business ethics.