August 30, 2008
More Economics Haiku
I'm inspired by the Freakonomics contest (see below--I didn't win). More economics Haiku are below the fold.
Always look for the
Unintended consequence.
Incentives matter.
When the price rises
Quantity Demanded falls.
The Law of Demand.
When the price rises
Quantity Supplied rises.
The Law of Supply.
Positive cross-price
Demand elasticity
Goods are substitutes
Negative cross-price
Demand elasticity
Goods are complements
Specialize and trade--
Comparative advantage.
All are better off.
Homework assignment:
You will have to do this in
Econ 101.
Economics blogs:
Wastes of our time and effort
or good teaching tools?
Posted by Art Carden at 12:39 PM in
Economics
