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[K0NR] DX, Artificial Scarcity and The List
Post : DX, Artificial Scarcity and The List URL : http://www.k0nr.com/wordpress/2016/0...cial-scarcity/ Posted : April 10, 2016 at 7:41 pm Author : K0NR Categories : DX, Ham Radio, HF http://www.k0nr.com/wordpress/2016/0...l-scarcity/dx/ Economists see scarcity, supply and demand as fundamental forces in a market. Items that are scarce demand a higher price while items that are easy to obtain tend to have a lower price.Â* A diamond is an example of something that is relatively scarce (and in demand) so it commands a high price. In contrast, wood is generally available and is much less expensive than diamonds. Then there's the concept of artificial scarcity ( https://en.wikipedia.org/wiki/Artificial_scarcity ) . If some items can be made scarce (or even just appear scarce), the price will tend to increase. For example, if I own all of the banana trees on an isolated island, I could reduce the available supply of bananas and command a higher price from all of the banana eaters there. Or maybe I start screening bananas for quality and I put a special sticker on them to brand them as special. [...] |
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