Economic Ideas

Much more than money, economics is about tradeoffs. Thinking economically involves cost and benefit, marginal analysis and seeing that there is no free lunch. Econlife tries to convey these economic ideas, which serve as the foundation of economics and help people make decisions personally, professionally and as voters.

When the Price is Always Right

At two gas stations near Rotterdam, price is constantly changing. Using software that recognizes buying behavior, the retailers try to match the price to the customer. Those who are willing to pay mor…

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