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044: #DISUNOMICS - PRICE ELASTICITY & TYPES OF GOODS: WHY OUR TASTES CHANGE WHEN THE MONEY CHANGES episode artwork

EPISODE · Jan 28, 2018 · 18 MIN

044: #DISUNOMICS - PRICE ELASTICITY & TYPES OF GOODS: WHY OUR TASTES CHANGE WHEN THE MONEY CHANGES

from DISUNOMICS · host DISUNOMICS

Why do we demand more of certain goods & services when are money goes up? Why does the change of price change our interests in that good/service? I discuss some basic economic theory in this weeks episode which relates to our everyday life. > What is price elasticity? > What is the difference between elasticity & inelasticity? > Examples of price elastic & inelastic goods > What is a normal good? > What is a luxury good? > What is a giffen good? > What is a complimentary good? > What is a substitute good? Any questions, comments or enquiries? [email protected] www.DISUNOMICS.com Twitter: www.twitter.com/D1SUNOMICS - @D1SUNOMICS IG: www.instagram.com/DISUNOMICS - @DISUNOMICS Shout outs: BOLA SOL SHOW https://t.co/1jOH6kAUB4 - Tickets to the live show 10th February 2018 @Bola_Sol - Twitter www.youtube.com/BolaSol @RefinedCurrency - Twitter www.refinedcurrency.co.uk Learn more about your ad choices. Visit podcastchoices.com/adchoices

What this episode covers

Why do we demand more of certain goods & services when are money goes up? Why does the change of price change our interests in that good/service? I discuss some basic economic theory in this weeks episode which relates to our everyday life. > What is price elasticity? > What is the difference between elasticity & inelasticity? > Examples of price elastic & inelastic goods > What is a normal good? > What is a luxury good? > What is a giffen good? > What is a complimentary good? > What is a substitute good? Any questions, comments or enquiries? [email protected] www.DISUNOMICS.com Twitter: www.twitter.com/D1SUNOMICS - @D1SUNOMICS IG: www.instagram.com/DISUNOMICS - @DISUNOMICS Shout outs: BOLA SOL SHOW https://t.co/1jOH6kAUB4 - Tickets to the live show 10th February 2018 @Bola_Sol - Twitter www.youtube.com/BolaSol @RefinedCurrency - Twitter www.refinedcurrency.co.uk Learn more about your ad choices. Visit podcastchoices.com/adchoices

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044: #DISUNOMICS - PRICE ELASTICITY & TYPES OF GOODS: WHY OUR TASTES CHANGE WHEN THE MONEY CHANGES

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This episode was published on January 28, 2018.

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Why do we demand more of certain goods & services when are money goes up? Why does the change of price change our interests in that good/service? I discuss some basic economic theory in this weeks episode which relates to our everyday life. > What...

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