RES-ECON 162 Lecture Notes - Lecture 13: Product Placement, Body Fluid, Jessica Mitford
18 Apr 2016
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In america we have more freedom of choice of anywhere. Conditions that permit/ensure freedom of choice (they must be met) Most efficient way of conducting business with a means of exchange, we can say. Exception is medical cost, very very high, and we don"t have a choice housing costs funeral costs yes or no to price. In a free-choice economy we should be able to buy products that fall under any of these categories. Wealth- something that is good for us, products produce wealth among us (orange. Nealth- products whose affects are neutral at best, probably just waste out money. Illth- products that are really bad/detrimental to our health (alcohol, smoking, (deodorant, mouthwash) juice, milk, water) drugs) Economic freedom: consumers implied right to choose g&s that they want. Positive economic freedom of choice: right to consumer anything one wishes along with the purchasing power necessary to implement that right (money)
