What is a Giffen Good/How to Lose Weight/100 Simple Pleasures

Dear all Imagine that you are a poor person who lives on a very tight budget. One of your main expenses is food. You buy a lot of bread because it is cheap and filling. Photo by Jude Infantini on Unsplash Now, imagine that the price of bread goes up. This means that you have to spend more money on bread to get the same amount of food. However, you don't have any extra money to spend on bread. So, you have to cut back on other things in your budget, like buying meat or vegetables. This means that you end up eating more bread, even though it is more expensive. This is an example of a Giffen good. A Giffen good is a good that people consume more of as the price rises. This is counterintuitive because we usually expect people to consume less of a good when the price goes up. However, Giffen goods are special because they are inferior goods. An inferior good is a good that people demand less of as their income increases. The price of bread went up, but you ended up eating more of it. This is because bread is an inferior good and you have a limited budget. Here are some other examples of Giffen goods: -Rice -Potatoes -Ramen noodles -Off-brand cereal -Public transportation It is important to note that Giffen goods are rare. Most goods follow the law of demand, which states that demand for a good decreases as the price increases. However, Giffen goods are a reminder that there are always exceptions to the rule. **One Video I Enjoyed** How to lose weight? Dr Pal explained his method for doing so. Link»»: https://youtu.be/5_1yhDaDZfA **Two Tweets I Enjoyed and Liked** ChatGPT with Code Interpreter is an INSANE productivity multiplier. 🧵 with some experiments. https://twitter.com/paraschopra/status/1690371487851782144 A powerful lesson on luck that everyone needs to hear. https://twitter.com/SahilBloom/status/1693600670794805494 **Three New Websites I Enjoyed and Liked** Enjoy the game. https://therace.montblancexplorer.com/en-be Create Notion-style avatars. https://www.avatartion.com Get Your Career Roasted By AI. https://6figr.com/career-roast **Three Quotes and Phrases I Liked** It always hurts to lose people but nothing hurts more than losing yourself while trying to hold on to someone else. Hold on to you. Heal, grow, and move forward. Forgive yourself for accepting less than you deserve and never do it again.We suffer more often in imagination than in reality.' Self-forgiveness is a journey to growth. 🌱 "Performance is something that we will give more time; behavior we won't. And that's because behavior is a choice, not a skill set." **Two Write Ups I Enjoyed and Liked** Life is a collection of little moments that add up to create our experience of the world. https://www.mindbodydad.com/mind/100-simple-pleasures There's a way to get healthier without even going to a gym. It's called NEAT. https://www.npr.org/sections/health-shots/2023/07/22/1189303227/neat-fitness-non-exercise-activity-thermogenesis **One Photo I Enjoyed and Liked** Kolkata City Skyline from Hoogly Bridge Source: Wikipedia **An Amazing/Weird/ Useful Product** Buy Cow Dung Cakes Online Buy it from here » » » Amazon Link Thanks Xoxo