- P - price
- Q - quantity of good
- S - supply
- D - demand
Well, if you do....good for you. But this Christmas season I have certainly learned a valuable lesson in supply and demand.
It all began with a little trip to the Hallmark store a few short weeks ago. Each year I pick an ornament for each member of the GRITS family; however, I usually go AFTER Christmas when those suckers are half price.
Because I am a cheap skate.
It is important that you must know that my two favorite Christmas movies, of all time, are "Christmas Vacation" AND "A Christmas Story".
So, imagine the joy in my heart when I spotted this little ornament gem:
Yes, yes, folks.....that would be Cousin Eddie's RV!!! I knew when I laid eyes on it, that it WOULD be hanging on MY Christmas tree this year!
It was meant to be mine, because I got the very LAST one in the Hallmark store. And apparently the last one in my city, because no one has been able to find one since my purchase.
A couple of other ornaments caught my eye, but I decided to wait on their purchase. But that little voice inside had me back in the Hallmark store a couple days later. Which turned into a trip to Books-A-Million, where they also sell Hallmark ornaments.
My next two purchases were these hot little items:
Be honest, how many of you just said in your mind (or out loud), "Fra-gee-lay. That must be Italian."
Now, here's where our little lesson in economics comes in. I purchased each of these ornaments for $16.50 EACH. Which is why I usually wait until the day after Christmas to buy them, when they are half price.
Imagine my surprise when I found all three of these ornaments on Amazon.com selling for over $30 EACH! The Cousin Eddie's RV ornament alone is selling for $49.95.
That, my friends, is today's lesson in supply and demand!
(And, NO, I am not selling my fabulous ornaments....they will be on my Christmas tree for the rest of my life!)