lb:basic.economics
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| lb:basic.economics [2025-11-01 12:52:40] – created ninjasr | lb:basic.economics [2025-11-14 15:18:34] (current) – [Basic Economics] ninjasr | ||
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| ====== Basic Economics ====== | ====== Basic Economics ====== | ||
| - | This article explains the basics of economics. As in: the market, pricing, stuff like that. | + | This article explains the basics of [[lb:economics]]. As in: the market, pricing, stuff like that. |
| {{tag> | {{tag> | ||
| ===== Notes ===== | ===== Notes ===== | ||
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| The reason some guy paid $1.50 while you paid $2.00 is because those are the prices that we had agreed upon. He was willing to pay $1.50 for the hotdog and I agreed to sell it to him for that amount. Meanwhile you were willing to pay $2.00 for it, so I agreed to that too. If you had known the other guy had paid less, you'd probably want to pay that much too.\\ | The reason some guy paid $1.50 while you paid $2.00 is because those are the prices that we had agreed upon. He was willing to pay $1.50 for the hotdog and I agreed to sell it to him for that amount. Meanwhile you were willing to pay $2.00 for it, so I agreed to that too. If you had known the other guy had paid less, you'd probably want to pay that much too.\\ | ||
| Basically every price of any good or service is individually negotiable like this. There //are// parts of this ‘equation’ that are //kinda, sorta, not really// set in stone – like me spending $0.50 to make each hotdog – but generally this applies.\\ | Basically every price of any good or service is individually negotiable like this. There //are// parts of this ‘equation’ that are //kinda, sorta, not really// set in stone – like me spending $0.50 to make each hotdog – but generally this applies.\\ | ||
| - | Does this mean that all prices are nonsense and, in fact, nothing is worth anything? No, that doesn' | + | Does this mean that all prices are nonsense and, in fact, nothing is worth anything? No, it doesn' |
| So you aren't paying $2.00 because //every hotdog in existence is worth exactly $2.00// but because within your given context, that's how much the hotdog was worth //to you//. | So you aren't paying $2.00 because //every hotdog in existence is worth exactly $2.00// but because within your given context, that's how much the hotdog was worth //to you//. | ||
lb/basic.economics.1762001560.txt.gz · Last modified: 2025-11-01 12:52:40 by ninjasr