Conservapedia

Changes

Economics Lecture One (view source)

Revision as of 02:21, August 23, 2009

341 bytes added ,  02:21, August 23, 2009
→‎Scarcity: added more
Line 122: Line 122:     
Free market competition handles issues of scarcity extremely well, because it can find lower-cost substitutes over time, which drives down the costs to the public.  For example, cheaper and better plastic was used instead of these metals during that period.
 
Free market competition handles issues of scarcity extremely well, because it can find lower-cost substitutes over time, which drives down the costs to the public.  For example, cheaper and better plastic was used instead of these metals during that period.
 +
 +
Beware of fake scarcity as a way of increasing price.  The "collectors' edition," the "limited offers," and the "only one left," are all slogans designed to create the appearance of scarcity in order to create higher prices.  People want things they think are scarce and limited in supply, such as gold, and are willing to pay more for it.
    
==Transaction Costs==
 
==Transaction Costs==
Aschlafly
Anthony, Irenaeus, Siteadmin, apieditor, Bureaucrats, Check users, nsAm_Govt_101RO, nsAm_Govt_101RW, nsAm_Govt_101_ta, nsJudgesRO, nsJudgesRW, nsJudges_talkRO, nsJudges_talkRW, nsTeam2RO, nsTeam2RW, nsTeam2_talkRO, nsTeam2_talkRW, oversight, Administrators
126,506

edits

Retrieved from "https://www.conservapedia.com/Special:MobileDiff/695307"