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The Business of Economics$
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John Kay

Print publication date: 1996

Print ISBN-13: 9780198292227

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198292228.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2019. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 18 October 2019

Applying Economics

Applying Economics

Chapter:
(p.151) 16 Applying Economics
Source:
The Business of Economics
Author(s):

John Kay (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/0198292228.003.0016

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

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