Welcome to Rye Country Day's Economic Blog. Here you will find perspectives by students taking Economics at Rye Country Day School. It is meant to be a forum where students can openly express their ideas and take positions on relevant economic issues. I urge everyone to participate in presenting their own ideas in an open manner so that we can all learn from each other. Regardless of whether you are currently taking Economics, everyone is invited and encouraged to comment on articles and get involved. Feel free to e-mail me, Alex Osborne at email@example.com , with comments or suggestions.
Tuesday, December 12, 2006
Featured Entry - Supply and Demand for Hugs
It was very late one night, and Chris and I were talking on AIM. Ofcourse, we started to talk about our Economics class and how we were enjoying learning the subject. Our conversation then converted into an in-depth discussion on an economical opinion of hugs. The subject in question was very mundane, but somehow we were able to make it work. We decided that scarcity was apparent when it concerned hugs. Some people rarely hug others, and so their hugs are obviously scarce. On the other hand, people who always give hugs have too much supply and therefore there isn't too much demand for them. Our conversation also inculded the opportunity costs and incentives for certain people's hugs. This may have seemed as an absolutely absurd topic to be discussing economically but it was really fun to make it work...and it made so much sense!
- Riddhima Hinduja