Wednesday, May 7, 2008

Economics 101

Last weekend, the kids went to the local Agway for a couple of 50 pound bags of dog food (each lasts 3 to 4 weeks). One of their rituals is to pick up a package of a dozen homemade chocolate chip cookies, which are sold there for about $4. So, they brought the dog food and cookies home, and each of the three shoppers took their four cookies. Kellie and Ryan ate theirs pronto, but Mark, being a slow and picky eater, ate 2 and saved 2 for "later". Later, while he was eating them, he told me I should bake cookies for Agway to sell; I essentially said "no dice". He then questioned me and determined that Agway probably pays the baker about $2 per dozen. He thought for a while, and then informed me that I needed to teach him to make cookies, so he could sell Agway 5 dozen per day and earn $10. His Dad then asked him, "Well, what about the cost of materials?" Mark thought again, and then informed him that since the sisters can make about 150 on a Saturday with the materials I have in the house, he'll be fine for the first week, and then he can just buy materials and ingredients for the second week with his $70. I found it very amusing. I am proud of the little guy's thinking.

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