Comments on: Gotta Drink But Can’t Afford It? Lower Your Standards http://weakonomics.com/2010/02/04/gotta-drink-but-cant-afford-it-lower-your-standards/ Everything That's Wrong With You And Your Money Tue, 27 Jul 2010 18:54:13 -0400 http://wordpress.org/?v=2.9.2 hourly 1 By: Online koozies http://weakonomics.com/2010/02/04/gotta-drink-but-cant-afford-it-lower-your-standards/comment-page-1/#comment-3547 Online koozies Mon, 08 Feb 2010 07:58:28 +0000 http://weakonomics.com/?p=3787#comment-3547 I think you need koozies for your drink. So great ! I think you need koozies for your drink. So great !

]]> By: Josh http://weakonomics.com/2010/02/04/gotta-drink-but-cant-afford-it-lower-your-standards/comment-page-1/#comment-3543 Josh Thu, 04 Feb 2010 23:16:17 +0000 http://weakonomics.com/?p=3787#comment-3543 We had to cover this in a Microeconomics course. It always amuses me how the media reports the 'amazing' fact that lower priced goods of comparable items sell higher quantities during a recession. As incomes rise, the consumption of 'normal goods' increases, and consumption of 'inferior goods' decreases. The opposite is also true, with consumption of 'normal goods' falling as incomes decrease, and consumption of 'inferior goods' increasing. We had to spend 3 months learning about that, and really, ain't it just common sense?? We had to cover this in a Microeconomics course. It always amuses me how the media reports the ‘amazing’ fact that lower priced goods of comparable items sell higher quantities during a recession.

As incomes rise, the consumption of ‘normal goods’ increases, and consumption of ‘inferior goods’ decreases. The opposite is also true, with consumption of ‘normal goods’ falling as incomes decrease, and consumption of ‘inferior goods’ increasing.

We had to spend 3 months learning about that, and really, ain’t it just common sense??

]]> By: ginger avenger http://weakonomics.com/2010/02/04/gotta-drink-but-cant-afford-it-lower-your-standards/comment-page-1/#comment-3540 ginger avenger Thu, 04 Feb 2010 15:46:12 +0000 http://weakonomics.com/?p=3787#comment-3540 I've been waiting forever for someone to explain how swamp donkeys can be related to personal finance and the economy at large. Whoulda thunk. I’ve been waiting forever for someone to explain how swamp donkeys can be related to personal finance and the economy at large. Whoulda thunk.

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