Secondhand Economy: Principles, Elasticity, Costs

The
Secondhand
Economy
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Topics
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The Principles of Economy
Facing tradeoffs
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Thinking at the Margin
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Externalities
Secondhand
shopping generates
positive externalities
Electronics can contain lead,
cadmium, mercury, etc.
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Textiles make up a large
percentage of waste.
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Encouraging Positive Externalities
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Price Elasticity
Price Elasticity:
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PRICE
Retail is Inelastic
QUANTITY
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PRICE
Thrifting is Elastic
QUANTITY
Costs
Total Costs
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COST
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Fixed costs
OUTPUT
Total Costs
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COST
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Fixed costs
OUTPUT
The most efficient price when buying secondhand can be
much lower because of marginal revenue.
1.
PRICE
Marginal Revenue
2.
QUANTITY
Other Costs of
Secondhand
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Thrifting is growing
rapidly!
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Works Cited
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