Posts Tagged ‘demand’

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    Kidney Markets?

    Sep 8, 10 • 506 Views • 3 Comments

    What should we be able to buy and sell? Alcohol? Land? People? Body Parts? In a Teaching Company lecture on organ transplants, Wake Forest economist Robert Whaples says that the answers depend on the market’s boundaries. And, he soon adds, those...  [read more]

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    Lessons for a Rainy Day

    May 20, 10 • 239 Views • No Comments

    Last Tuesday was a bad day for most umbrellas. In New York City, it poured, it was windy, and most umbrellas were flipping out, blowing sidewards, and doing everything except what they were supposed to do.  It makes sense that someone should have...  [read more]

  • Marijuana legalization is about demand, supply, market structure and cost benefit analysis.

    A Demand and Supply Lesson

    May 17, 10 • 266 Views • No Comments

    A recent NPR report on the changing status of marijuana in California is also a supply and demand story. The story begins in 1983 when the Reagan administration sought to decimate pot production in California. As a result, supply would have decreased because...  [read more]

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    A Water Dilemma

    May 8, 10 • 317 Views • No Comments

    Last week, the Boston area had undrinkable water for several days. Predictably, bottled water sales soared as did bottled water prices in certain stores.  Equally predictably, politicians condemned the increases. Most economists, though, disagreed....  [read more]

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    Hot Wing Markets

    Mar 29, 10 • 246 Views • No Comments

    Opening on April 1 in NYC, the Exchange Bar & Grill has food and drink prices that respond instantaneously to demand.  As described in a Reuters article, if everyone wants hot wings, then, in $.25 increments, the price increases; if no one wants...  [read more]