That if somthign is hard to get or make it will cost more than if its easy to get or make.
That some consumption is conscious consumption and provides a signalling benefit which swamps the direct material benefit.
Higher order goods have a longer delay to pay-off in the form of first order goods, but the progression to higher and higher order goods and the specialization that drives it, is economic growth.
People like variety in their consumption because of LMD in their utility functions.
If the price of a good rises, the prices of its compliment goods will fall slightly and the prices of its substitute goods will rice slightly (since people will buy more of substitute and less of the complement and supply & demand.
Economies of scale.
There’s no such thing as a free lunch.
(If you know that diminishing marginal returns are pervasive and allow for trade between actors, pretty much all of classical economics follows by implication.)
That if somthign is hard to get or make it will cost more than if its easy to get or make.
That some consumption is conscious consumption and provides a signalling benefit which swamps the direct material benefit.
Higher order goods have a longer delay to pay-off in the form of first order goods, but the progression to higher and higher order goods and the specialization that drives it, is economic growth.
People like variety in their consumption because of LMD in their utility functions.
If the price of a good rises, the prices of its compliment goods will fall slightly and the prices of its substitute goods will rice slightly (since people will buy more of substitute and less of the complement and supply & demand.
Economies of scale.
There’s no such thing as a free lunch.
(If you know that diminishing marginal returns are pervasive and allow for trade between actors, pretty much all of classical economics follows by implication.)