Posted by: rusch | October 14, 2006

It’s a mad world

The law of supply and demand fascinated my brother’s friends during their freshman year at BYU.  I mean for a school that seems to require no less then a 3.7 and top ACT and SAT scores these days, it was rather comical that these bright bulbs would be impressed with a concept so simple as that if a given commodity is high demand, and supply is limited, then those selling said commodity can charge more thus making a higher margin of profit then say if the demand for the afore mentioned commodity were low and the supply ample.

On the other hand, people are willing to pay a lot for plate glass which is basically sand which is seemingly endless in supply and something that if you attempted to sell for any amount, your potential sale would look at you and wonder if you suffered from sort of mental defect.

Oh well, the world is really crazy when you think about it.

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