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To: ctdonath2
In economic speak, they have a term called "utility" that applies here.

For example, you need a couch for your living room and you have a choice between top-of-the-line, high-quality leather couch that retails for $4,200 vs. a similar-looking discount furniture store brand that sells for $800.

Most people would immediately go for the lower priced couch, even knowing that the manufacturer might have taken a lot of shortcuts and used cheaper materials.

However, that $4,200 couch lasts for 30 years and that $800 couch starts getting frayed and tattered after five years and you have to replace it again.

Cost of the $4,2000 couch = .46 cents a day
Cost of the $800 couch = .38 cents a day

Many people don't think that way but I bought into it at an early age. I've been married 28 years and moved three times and my wife and I still have much of our original furniture that we bought when we got married (all solid teakwood bedroom set for example).

Another example of "utility" goes like this. You buy a cheap coffeemaker from Wal-Mart, use it for a few weeks and then stick it in a closet, destined for a later yard sale, because it makes lousy coffee. Or you buy a top-of-the-line Bunn coffee maker and end up using it everyday for 10 years.

74 posted on 02/09/2015 2:27:59 PM PST by SamAdams76
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To: SamAdams76

Actually I had it flip-flopped. 38 cents a day for the more expensive couch! 46 cents a day for the less expensive one.


75 posted on 02/09/2015 2:39:45 PM PST by SamAdams76
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To: SamAdams76

I used to hear radio ads for a hamburger restaurant, each ending with “sure you could buy a burger for a dollar ... but then you’d have to eat it.”


104 posted on 02/09/2015 8:56:00 PM PST by ctdonath2 (Si vis pacem, para bellum.)
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