Bike Forums - View Single Post - Where we are in 2020 and the cost of road bikes

12-19-20, 01:18 PM

#113

tomato coupe

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Quote:

Originally Posted by AcesHigh007

I'm afraid it's time for Economics 201 to begin.

Ever heard of the concept of Price Elasticity / Elastic and Inelastic goods? Elastic goods are those things that the general population NEEDS. I.e. Toilet paper, soap, basic food, etc. Inelastic goods are those things people WANT. I.e. Mercedes and $12000 road bikes.

You just flunked Economics 201.

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