Tuesday, 24 January 2012
Economics 100 was never this interesting
I never ever, ever thought I'd be putting up a 3 minute clip about economics. I was bored out of my brain for most of Economics 100, and spent the bulk of the lectures making paper planes and throwing them at the lecturer. Or drinking. Which is why I now need to watch short clips on economics to learn all the stuff that I missed back then. This is a good clip on value - and apparently he'll be producing one per week from now on. Even non-economists should be able to understand the concept he is expounding upon.
And it was Economics 100 that I did, not Economics 101. I don't think we had an Economics 101 course.
h/t - Samizdata
Badly proofread by Boy on a bike at Tuesday, January 24, 2012
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That 3-minute clip succinctly explains why the tax office allows an artist to choose which of three ways he values his inventory:
1. Costs of production
2. Wholesale price (artist's nominated selling price less gallery commission),
3. Wall price (price tag on the painting when it is hanging in the gallery).
None of those values will have much bearing on the artist's actual income from sales.
keep putting the buggers up, eh?
Mk50 of Brisbane
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