want - Economics Students Society of Australia

want

A collection of 2 posts

“Water you going to do about it?”

“Water you going to do about it?”

What would happen if our demand for a commodity changed depending on how we used it? Prices of goods are theoretically determined by where the cost of supply intersects with demand. And as you learn in ECON101 ideally this will lead to the efficient allocation of resources to the benefit

Scavenging for rationality at the Camberwell Sunday Market

Scavenging for rationality at the Camberwell Sunday Market

In economics, we are often presented with the benchmark of a perfectly competitive market, in which a large number of buyers and sellers trade homogenous products with perfect knowledge regarding price and utility. The only feature Camberwell Sunday Market shares with this benchmark is a large number of buyers and