The Scarcity Principle  

The scarcity principle goes like this; a limited supply coupled with a high demand results in a mismatch between the two. In pricing theory, the scarcity principle then suggests that the price for a scarce good or service should rise until demand and supply return to balance. The real estate…

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Having Your Cake

When you look a little bit closer, some expressions we use in everyday life are a bit illogical. Take the one that goes; “you can’t have your cake and eat it too” for example – you actually can have a cake and then eat it. In fact, it probably makes…

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A Special Occasion

George always wanted to take a trip to the old country. All his life he’d talked about when he’d retire, and he and Marge would revisit all of the old places they’d not seen for years. They’d been saving carefully along the way to do it in style – it…

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