The Lipstick Effect in economics has always fascinated me. The Lipstick Effect theorizes that consumers will spend on little luxuries in the midst of hard times for a pick me up. Despite economic downturn, people will be willing to part with their money for small trinkets meant to bring comfort or some sort of positiveContinue reading “The Lipstick Effect”
Tag Archives: economics
The Effects of Inflation
I am coming to you with breaking news. It seems like it’s on the tip of everyone’s tongue. INFLATION. Gasp! Now fear not, inflation is a very normal part of the economic cycle. In economics, we have what is known as a basket of goods and services. This fictional basket of goods reflects the fixedContinue reading “The Effects of Inflation”
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