Ten Key Ideas: Opening the Door to the Economic Way of Thinking
Where Do Prices Come From?
Why are convertibles more expensive than non-convertibles? Why is scotch that’s been aged for 21 years more expensive than scotch that’s been aged 10? Why are red peppers more expensive than green peppers? Why do Wal-Mart employees earn less than the average worker in the United States? Why is gasoline more expensive in the summer than the winter? Why is gasoline more expensive in Europe than in the United States? Why are roses more expensive on February 14? Why isn’t beer more expensive on Super Bowl Sunday? Why are houses in the suburbs of Washington, D.C. more expensive than houses in the suburbs of Richmond, Virginia?