Jump to content

Frustration

Members
  • Posts

    12253
  • Joined

  • Last visited

  • Days Won

    41

Frustration last won the day on May 25

Frustration had the most liked content!

About Frustration

Profile Information

  • Member Title
    USA, making the world better for 250 years

Frustration's Achievements

7.4k

Reputation

2

Community Answers

Single Status Update

See all updates by Frustration

  1. Is economics hard? I always found it to be very easy, but I also have a hard time telling if something is hard for other people.

    I just can't understand how so many people can't understand what is the equivelant of ABC in economics.

    1. Immortal Platypus

      Immortal Platypus

      I have no idea. I haven't found it super difficult at the very basic level that I know, but I don't know much

    2. Frustration

      Frustration

      So you understand why price floors/ceilings are a terrible idea and don't work?

    3. Immortal Platypus

      Immortal Platypus

      yeah, because price is a free market mechanism to show producers what consumers value, and consumers what the producers need to continue producing. if producers can't raise prices to compensate for higher costs and/or lower demand, then they'll stop producing, because it now loses them money to make and sell the product. it's simple supply/demand. and then if that happens, no one gets the product.

×
×
  • Create New...