Applying Economics

John Kay

in The Business of Economics

Published in print October 1996 | ISBN: 9780198292227
Published online November 2003 | e-ISBN: 9780191596520 | DOI:
 Applying Economics

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This chapter explores the economics of several everyday issues. The first part explains the determinants of different salaries, while the second explains why brands are so valuable. The next part discusses the differences in prices across countries and the overall trend of falling prices. Finally, the last part discusses an example of what David Henderson has called ‘DIY economics’ – the fallacies which people who have not studied economics know to be self‐evident truths.

Keywords: brands; DIY economics; David Henderson; manufacturing; prices; salaries

Chapter.  5599 words. 

Subjects: Microeconomics

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