Jennifer Bayot exemplifies many economic concepts in her article “Want Bills by Snail Mail? It Might Cost You Money.” This article can be explained using the economics concepts learned in Economics 111.
In an attempt to maximize profit by having consumers do all of their bill paying online, large scale companies are beginning to charge consumers for billing information sent through conventional mail. Under the laws of demand, the income effect of the monthly raise in expense for mail delivered bills is lowering consumer’s real income. Knowing consumers wish to maximize their utility, companies predict consumers will shift their billing transactions to the web in order to keep their real income the same.
Changes in technology have jump started this ne
It can obviously be seen that this article can be broken down and explained using the economics concepts learned in Economics 111. Economics principals easily relate to almost any business idea. Thus, economic knowledge is very beneficial.
This article is false. A community that will believe it any way will experience a fall in individual utility single handedly. It a subject of time before households must understand what the correct decision is. If a community proceeds with conventional mail their availability of a better substitute will be overlooked. This will not necessarily be cataclysmic, but will be a very unfortunate economic assessment. A household must learn to make proper economic assessments in order to portion their money affably.
Example Essays Home
