Dealing with Gas Prices
One of the few things I remember from my Economics classes in college is that gasoline isn’t like a lot of other products in that the demand for it doesn’t change with its price much, especially not in the short term. Gas prices are getting higher and higher lately, but how many of us are doing anything but whining in response?
Venomous Kate has a slightly unusual take on gas-price whining:
What really galls me, though, are the people who live in this small town along with me who still wind up spending hundreds of dollars on gas every month. And why? Because they drive into the big city (which, for us, is Kansas City) so they can go to the latest, trendiest restaurants or attend entertainment events.
In my book if you’re spending big money on gas because you’re driving places for the fun of it then you’ve got no right to bitch.
She follows her (very effective) rant with a list of suggestions on how to reduce your gas costs (which is different from reducing gas prices, mind). The whole post is worth a read, I think.
I guess you made it to class that day. The fancy term is inelastic, impress your friends. I guess there are a few WVU grads that didn’t simply “buy” a degree out there; I am waiting on a post about that topic.
I actually knew the fancy term, too, shockingly enough. I kind of liked Econ class.
Sorry, but if you want a post on that one, you or Matt will have to write it.
Thanks for the link, Robin. I was actually rather worried people wouldn’t notice the distinction — guess I shouldn’t have underestimated the intelligence of the Venomites.