Households

In a circular flow model, households are the source of consumption expenditures and land, labor and capital for businesses. Econlife looks at all of the activities of households that include spending, taxes, education, health care and income.

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    Giving and Getting Gifts

    Nov 29, 10 • 265 Views • No Comments

    With the holiday season beginning, we should consider the economics of gift giving. Let’s start with University of Pennsylvania Professor Joel Waldfogel who focused on receiving gifts. Then, through Duke’s Dan Ariely, we can look at how to give...  [read more]

  • Packaging can shape a buying decision.

    A Chinese Coach

    Nov 28, 10 • 213 Views • No Comments

    Coach has 41 handbag stores in China and will soon have 8 more. Coach and China though, are about a lot more than handbags. According to NY Times Magazine columnist David Leonhardt, the Chinese consumer can fuel the world economy with “the urge to...  [read more]

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    Dietary Incentives

    Nov 27, 10 • 242 Views • No Comments

    Which would you choose? 2000 calories from 10 donuts that would cost you $5? or… 2000 calories from Greek yogurt, organic raspberries, a turkey avocado wrap, Alaskan King Salmon, green beans, a whole wheat roll, strawberries and heavy cream for $25.86?...  [read more]

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    Demand, Supply, and College Admissions

    Nov 19, 10 • 300 Views • No Comments

    You might pay $1.50 to get a cup of coffee or $30 for a blouse. But what do students “pay” to get admitted to a college? And, at what “prices” will colleges accept people?  Several researchers developed a supply and demand model...  [read more]

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    Demand, Supply, and Knee Replacement

    Nov 15, 10 • 271 Views • No Comments

    Hearing about knee replacement surgery from a friend, I soon realized it is about much more than an operation. It involves demand, supply, innovation, and the quality and cost of national medical care. First the facts: For knee replacement surgery, patients...  [read more]