PragerU
Lemonade Stand Economics
S5 • E12 Oct 16, 2014 5m
Want to quickly understand the basics of running a business? Then studying your neighborhood lemonade stand is a great place to start. From supply and demand, to pricing, marketing and the costs of labor and supplies, lemonade stands provide a fundamental, albeit simple, way of understanding how hard it is to make a buck, and how much harder it is when the government takes its cut.