The extent of competition in the market affects the balance of bargaining power of market participants. When price discrimination is low, it increases consumer welfare - that is, if the price does not correspond to the evaluation of each product by the consumer, then discrimination allows for additional consumers to buy the product at a price,…

The application of economics principles to the analysis of behavior has yielded novel insights on value and choice across contexts ranging from laboratory animal research to clinical populations to national trends of global impact. Recent innovations in demand curve methods provide a credible means of quantitatively comparing qualitatively…

Examined how expenditure patterns of elderly persons at various income-to-needs levels differ from those of younger mature adults at similar income-to-needs levels. Assessed patterns of spending in a variety of areas within three domains: giving, recreation, and essentials. Age and income exerted an effect on spending. (RJM)

Universities influence local economies by generating gross real goods and services from institutional expenditures and personal expenditures of staff, students and visitors. A simple minimum cost methodology for determining the extent of the economic impact of a university on its local economy is described and illustrated. Local income, jobs, and…

Summarizes the results of a study of 40 high school students with grade point averages of 2.5 or greater who had never received formal training in economics. The students worked on problems involving basic economic concepts including productivity, profits, opportunity costs, and supply and demand. Discusses their misconceptions. (MJP)

Provides a classroom exercise using the restrictive tariffs on sugar to examine issues of protectionism and international trade. Discusses related issues such as the North American Free Trade Agreement and the formation of large regional trading blocks. Includes a hands-on calculation of the economic impact of the quota on consumers. (MJP)