Here's Why Supply and Demand Is Overrated!

Here's Why Supply and Demand Is Overrated!

If you were to ask any random person on the street what it is that they knew about economics there is a pretty good chance that the first thing that they would blurt out would be the words “Supply & Demand” The number of people out there willing and able to buy a good or service versus the number of people out there willing to sell a good or service, all individually vying to get the best possible price. If demand increases prices increase, if demand falls prices fall and visa versa with supply. Now I know this channel is called Economics Explained but for most of you listening, all of this should pretty much go without saying. The only issue is that this rosy picture is in no way a reflection of the real world. So what is going on here? In this episode of Economics Explained we will explore the following questions: How are prices decided if not through supply and demand? What does this mean for regular people in the economy? How could all of this be used to make better policies and business decisions? And how does this all make the case for a zero dollar minimum wage? Learn more about your ad choices. Visit megaphone.fm/adchoices

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Jaksot(304)

Does Taiwan Have Dutch Disease?

Does Taiwan Have Dutch Disease?

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23 Syys 18min

Why Are Countries Abandoning OPEC?

Why Are Countries Abandoning OPEC?

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21 Syys 14min

Uruguay Has No Resources, But They're Rich

Uruguay Has No Resources, But They're Rich

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16 Syys 22min

The Iran War Looks Very Different from Europe

The Iran War Looks Very Different from Europe

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14 Syys 19min

Did Pensions Destroy France?

Did Pensions Destroy France?

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9 Syys 24min

What Is The Net Worth Of The World

What Is The Net Worth Of The World

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2 Syys 30min

Iran's Economy Was Collapsing … And Then The War Started

Iran's Economy Was Collapsing … And Then The War Started

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31 Elo 16min

Where Has Venezuela's Oil Gone?

Where Has Venezuela's Oil Gone?

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26 Elo 16min

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