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TIE-IN SALE: A type of sale in which consumers can buy one good only if they purchase another good as well. For example, if your grocery store sells you a bag of tea with the condition that you buy a pound of sugar, that would be a tie-in sale. Because they allow a monopoly to increase its profit over what it could make by selling the two goods separately at constant prices, tie-in sales can be used to price discriminate. However, it is important to realize that there are other reasons for tie-in sales other than price discrimination, such as to increase efficiency. For example, when we buy a car, it comes as a package of several goods (tires, engine, etc), which would be very difficult (and inefficient) for consumers to assemble if they were bought separately.
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SECOND RULE OF SUBJECTIVITY The second of seven basic rules of the economy, stating that market prices are determined by subjective values and the preferences of buyers and resource owners. Contrary to popular opinion, prices and costs are not immutably facts of nature, but are ultimately based on what people are willing to pay or accept.
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ORANGE REBELOON
[What's This?]
Today, you are likely to spend a great deal of time waiting for visits from door-to-door solicitors trying to buy either a toaster oven that has convection cooking or a birthday gift for your mother. Be on the lookout for slow moving vehicles with darkened windows.
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The average length of a "business lunch" is about 36 minutes.
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"God gives talent; work transforms talent into genius. " -- Anna Pavlova, ballerina
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AOQL
Average Outgoing Quality Limit
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