2 ms·
Yes food is a great example. People will pay upwards of $20-$25 to have one meal made and delivered to their home, when really the total cost of the meal is pr
by xwdv 4y ago
Yes food is a great example.
People will pay upwards of $20-$25 to have one meal made and delivered to their home, when really the total cost of the meal is probably a couple bucks.
And then people insist on buying expensive processed crap, when the same thing could be had for far less with just some simple ingredients.
People waste money daily on expensive coffees and sugared waters, when all this probably costs mere pennies to make.
Gross, but people buy it. And often happily!
- irdc 4y agoSo people (other people, of course) intentionally paying too much for their food is what's causing 9,5% year-over-year[0] inflation? I wish I had a witty comeback but I'm honestly just stunned... 0. https://www.bls.gov/cpi/ https://www.bls.gov/cpi/
- xwdv 4y agoThe problem is a bit like climate change. If everyone is paying these prices, the prices will just keep going up. People just have to stop, but they won’t. You can think of markets as pricing engines, and prices will rise up to what the market can bear. Pretty simple.
- irdc 4y agoThat's only true for elastic demand.