But the Democrats are bragging about wage increases, what gives?

[Markle]

Dude, corporations pay none of those items on the list that you provided.

You're right, the customers of that business pay all those costs. Who else could pay them?

 

[Markle]

Jimmy Dean is on sale too. All instock at mine. Do you live in Russia?
View attachment 592083

 

[Markle]

I’ll tell you what. Hire someone at $1,000 per hour to mow lawns and price your service accordingly. Your cost means shit. Only matters what people will pay. Not what it costs you to do. It’s a simple concept you learn in class 1 of economics.

Thanks for confirming how foolish is a $15.00 per hour minimum wage.

 

[Leviticus]

Powell was put on the Fed Reserve Board by Obama, in 2012

Yes, but members of the board dont have much individual authority. It wasnt until Trump made him the chair that he had direct power to make policy on his own, and his policies are bad.

 

[elektra]

Sure brah, where does a corporation get it's money to operate?

The meds it sells to you

 

[struth]

Yes, but members of the board dont have much individual authority. It wasnt until Trump made him the chair that he had direct power to make policy on his own, and his policies are bad.

wrong. The entire board votes to make policy. The chair merely runs the meeting

moreover when his term was up, xiden reappointed him to chair

 

[Claudette]

elektra
Yup. Check out the price of beef at WAl-Mart. Man I almost keeled over.

 

[Claudette]

ColonelAngus
How right you are. They would be screaming bloody murder and blaming Trump. Cause its Biden all they do is make excuses.

 

[ColonelAngus]

ColonelAngus
How right you are. They would be screaming bloody murder and blaming Trump. Cause its Biden all they do is make excuses.

It's so pathetically obvious, too.

The sheep ONLY know "ORANGE MAN BAD!"

 

[ColonelAngus]

Wage growth is real, while inflation is temporary.

This is a straight up lie.

The impact of high inflation is NOT temporary.

When is Biden giving me back the extra money I am spending on fuel and groceries?

 

[FA_Q2]

I’ll tell you what. Hire someone at $1,000 per hour to mow lawns and price your service accordingly. Your cost means shit. Only matters what people will pay. Not what it costs you to do. It’s a simple concept you learn in class 1 of economics.

I KNOW you are not this ignorant on economics.

To state costs have nothing to do with pricing is asinine.

 

[citygator]

I KNOW you are not this ignorant on economics.

To state costs have nothing to do with pricing is asinine.

It has zero to do with pricing. Zero.

 

[FA_Q2]

It has zero to do with pricing. Zero.

So you really are that ignorant.

wow....

 

[citygator]

So you really are that ignorant.

wow....

Give me a scenario where cost determines the price over what people will pay.

 

[FA_Q2]

Give me a scenario where cost determines the price over what people will pay.

Over? Who said something that ignorant?

Cost and what people pay BOTH figure into the price of virtually all goods. You might be able to argue for very low use but required items such as salt being separated completely from production costs but even that is highly questionable.

Simple fact. The cheaper your goods are, the more they will sell. The more they cost, the less they will sell. Lets say I produce a widget for 9 bucks. The demand will allow me to sell those widgets at 10 bucks and I will move 1000 units. Increasing the price will, of course, reduce the units I can move as it decreases the demand. Lets say I can only move half the units, 500, at a price point of 12 bucks. Obviously I am going to move them at 12 bucks. However, If it only costs $5 to bring them to market I am clearly going to sell them at $10. Cost clearly effects price.

A crystal clear example of this is dollar stores. 5 years ago there were at least 3 dollar stores within 10 miles of of me. Today, the dollar store concept is essentially dead, I have zero of them near me. None of them went out of business, they all just raised their price and the all lost business because of it. The simple fact of the matter was that it became to expensive to continue to sell items for one dollar and there was more profit to be had raising the price. NOT because the demand suddenly changed and their customers were just fine paying 2 dollars for the crap they sell but because the profit margins became so low that losing those customers had a lower impact on profits than selling at the lower price point and keeping those customers.

Price is determined by BOTH the varying amounts of demand that product will fetch in the market at different price points and the cost of the product to bring it to market. That I have to explain this is insane, this is beyond simple. I would not even call it econ 101 - we have not even begun to get into economics yet. The fact that profits are what drives a business and profits CLEARLY are effected by the cost of bringing your product to market is fucking common sense.

 

[citygator]

Over? Who said something that ignorant?

Cost and what people pay BOTH figure into the price of virtually all goods. You might be able to argue for very low use but required items such as salt being separated completely from production costs but even that is highly questionable.

Simple fact. The cheaper your goods are, the more they will sell. The more they cost, the less they will sell. Lets say I produce a widget for 9 bucks. The demand will allow me to sell those widgets at 10 bucks and I will move 1000 units. Increasing the price will, of course, reduce the units I can move as it decreases the demand. Lets say I can only move half the units, 500, at a price point of 12 bucks. Obviously I am going to move them at 12 bucks. However, If it only costs $5 to bring them to market I am clearly going to sell them at $10. Cost clearly effects price.

A crystal clear example of this is dollar stores. 5 years ago there were at least 3 dollar stores within 10 miles of of me. Today, the dollar store concept is essentially dead, I have zero of them near me. None of them went out of business, they all just raised their price and the all lost business because of it. The simple fact of the matter was that it became to expensive to continue to sell items for one dollar and there was more profit to be had raising the price. NOT because the demand suddenly changed and their customers were just fine paying 2 dollars for the crap they sell but because the profit margins became so low that losing those customers had a lower impact on profits than selling at the lower price point and keeping those customers.

Price is determined by BOTH the varying amounts of demand that product will fetch in the market at different price points and the cost of the product to bring it to market. That I have to explain this is insane, this is beyond simple. I would not even call it econ 101 - we have not even begun to get into economics yet. The fact that profits are what drives a business and profits CLEARLY are effected by the cost of bringing your product to market is fucking common sense.

You’re dead wrong. Demand isn’t homogenous as you pointed out. Each unit purchased is an individual willing to pay a price. If you raise prices some individuals will pay that amount and some won’t. That’s economics. We can agree on that, right?

Your example proves that. Raise the price and fewer people will purchase something. Here you go….Those same people purchasing at $2 now would have paid $2 when your cost was lower. They aren’t paying more because of your cost. They always would buy at $2. Your example lost customers who would buy at $1. They aren’t paying more because your costs are up. Their buying decision is entirely disconnected from cost. Everyone’s is. Cost of goods does not determine the price people will pay. Never ever. I do this for a living.

 

[FA_Q2]

You’re dead wrong. Demand isn’t homogenous as you pointed out. Each unit purchased is an individual willing to pay a price. If you raise prices some individuals will pay that amount and some won’t. That’s economics. We can agree on that, right?

Your example proves that. Raise the price and fewer people will purchase something. Here you go….Those same people purchasing at $2 now would have paid $2 when your cost was lower. They aren’t paying more because of your cost. They always would buy at $2. Your example lost customers who would buy at $1. They aren’t paying more because your costs are up. Their buying decision is entirely disconnected from cost. Everyone’s is. Cost of goods does not determine the price people will pay. Never ever. I do this for a living.

No, it does not. not even remotely close...

Each individual determines what they will buy solely on the end price and not on the cost of production.

But end cost is not determined by individuals. It is determined by the market at large. It is certainly true that the same people would buy at 1 dollar (for the most part) that will purchase at 2 dollars BUT there are many that will purchase at 1 dollar but will not purchase at 2 dollars. They are certainly not going to pay more because of cost.

However, cost is based on profits. The market will set the price at the highest possible end profit, at least the closest to that businesses can achieve. And cost is very much associated with end price and production costs.

What you are saying is asinine in the extreme. Basically, if a big mac costs 5 bucks and the cost to produce it goes past 5 dollars, you are directly claiming that they will either cease to exist or they will remain at the 5 bucks. This is blatantly false. Blatantly.

 

[dudmuck]

I’ll tell you what. Hire someone at $1,000 per hour to mow lawns and price your service accordingly. Your cost means shit. Only matters what people will pay. Not what it costs you to do. It’s a simple concept you learn in class 1 of economics.

 

[LAUGHatLEFTISTS]

Coming from the depths of a pandemic and it's variants would have caused inflation for the orange fuckup too.

Dumb is trying to blame it on the Biden Admiistration.

Dumb is blaming Covid on Trump instead of China. But you did as you’re told like a good little leftists.

 

[jc456]

you think they meant price increase? hmmmmmmmmm insanity abound with lunatics from the demofk lands.