Displaying the characteristics of monopolistic competition, Shake Shack is showing how the U.S. burger market is adjusting to a changing consumer.
Because of monopoly pricing power, as a price maker with sole Super Bowl broadcast rights, NBC can charge $4.5 million for a 30 second ad slot.
Reflecting collective intelligence, markets in Greek CDSs and Greek bonds, and the dwindling deposits of Greek banks show if we'll have a Greek default.
Winter dibs is about whether you have temporary parking space property rights by shoveling your car out of the snow and if your self interest helps society.
Called the American Dream, the income mobility that lifts a child beyond a parent's poverty can depend on a community's characteristics.
As baseball history shows, as with GDP, with inflation we need a nominal and real amount to compare different years' salaries and calculate future value.
The behavioral economics ideas from our everyday economics are confirmation, expectations and projection bias, frames, temporal discounting and sunk costs.