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re: Why do OT Ballers hate diamonds and new cars?
Posted on 4/23/18 at 9:15 am to Pecker
Posted on 4/23/18 at 9:15 am to Pecker
quote:
Do you really need a lesson in this? This is like first day of micro.
For the buyer: If you buy a $1 potato, is the potato worth more or less to you than $1? It's worth more to you or you would have just kept your $1.
For the seller: If you sell a potato for $1, the potato is actually worth less to you than $1 or you would have just kept the potato.
That might be what the text book tells you
Not sure that's really accurate
I've spent money on things and didn't think it was worth more than what I was paying for it. Sometimes I just really don't care about being frugal.
2
Posted on 4/23/18 at 9:18 am to Powerman
quote:
That might be what the text book tells you
Not sure that's really accurate
I've spent money on things and didn't think it was worth more than what I was paying for it. Sometimes I just really don't care about being frugal.
I don't know what you tell you if you don't understand cost/price/worth/value in a market. The reason you didn't care about being "frugal" is because the money wasn't worth as much as the thing you wanted. If you were starving, you wouldn't have made such a decision. And if you were starving, the money you did have would have still been worth less than food.
This post was edited on 4/23/18 at 9:19 am
Posted on 4/23/18 at 9:19 am to Powerman
quote:
I've spent money on things and didn't think it was worth more than what I was paying for it.
Yes you did or you wouldn't have bought it.
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