How the razor introduced us to two-part pricing
Another excellent addition to the 50 Things That Made the Modern Economy series, as Tim Harford highlights the impact of the disposable razor on the modern economy. However, it's not so much the good that's of interest but the price model that Gillette adopted: two-part pricing.
How a razor revolutionised the way we pay for stuff https://t.co/xgIskRVz3I
— Tim Harford (@TimHarford) April 10, 2017
Where the razor led, others have followed: the computer terminal - Sony loses money on the Xbox, but makes money on games sales; telecoms companies lose money on the handsets but gain money from the services that they provide. And it is this sort of thing that's truly innovative.
Subscribe to email updates from the tutor2u Economics
Join 1000s of fellow Economics teachers and students all getting the tutor2u Economics team's latest resources and support delivered fresh in their inbox every morning.
You can also follow @tutor2uEconomics on Twitter, subscribe to our YouTube channel, or join our popular Facebook Groups.
Job board
Economics Contributor
tutor2u, On-line
Graham Watson
Graham Watson has taught Economics for over twenty years. He contributes to Tutor2U, reads voraciously and is interested in all aspects of Teaching and Learning.
You might also like
From the Blog
More Enrichment
-
A Level Economics Flying Start Student Workshops
Designed to support Year 12 students in the first year of taking A Level Economics, our Flying Start Student Workshops focus on the core Year 1 teaching content and aim to build...
-
A Level Economics Strong Foundations Workshops
The A Level Economics Strong Foundations workshops are designed to support all Year 13 A Level Economics students as they complete the fourth term of their two-year linear course.
Popular Content
-
AQA A Level Economics Revision Flashcards - National & International EconomyAQA A Level Economics Revision Flashcards - National & International Economy
- SKU: 02-4130-30073-03
-
Printed Edition
-
Student personal license
- £14.00 (+VAT)
Added to your Shopping Cart!
AQA A Level Economics Revision Flashcards - National & International Economy
- SKU: 02-4130-30073-03
-
Printed Edition
- £14.00 (+VAT)
-
Behavioural Economics Example Essays (Volume 1) for A Level EconomicsBehavioural Economics Example Essays (Volume 1) for A Level Economics
- SKU: 02-4130-30038-03
-
Printed Edition
-
Student personal license
- £5.00
Added to your Shopping Cart!
Behavioural Economics Example Essays (Volume 1) for A Level Economics
- SKU: 02-4130-30038-03
-
Printed Edition
- £5.00
Teaching Vacancies
-
Teacher of Economics 9 days left to apply
Tonbridge School, Tonbridge, Kent
-
Subject Leader - Business
The Reach Free School, Rickmansworth, Hertfordshire
-
Economics Teacher
Bromley High School, Bromley, Kent
- Browse all jobs ›
Advertise your vacancies with tutor2u
Much cheaper & more effective than TES or the Guardian. Reach the audience you really want to apply for your teaching vacancy by posting directly to our website and related social media audiences.