Station A and Station B are across the street from one another. They are both selling gas at $3.50/gallon.
A truck pulls into Station B and delivers a load of fuel. Station B raises its price to $3.75. Immediately all the traffic goes to Station A, which quickly runs out of fuel, while Station B sits empty.
Station A then takes delivery of a tank of fuel and raises its price to $4.00. Now all the traffic goes to Station B, which is still selling at $3.75.
Even socialists like you and me can see there are cases where the free market does a pretty good job of allocating resources.
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Today's Featured Article - Harvestin Hay: The Early Years (Part 2) - by Pat Browning. The summer of 1950 was the start of a new era in farming for our family. I was thirteen, and Kathy (my oldest sister) was seven. At this age, I believed tractor farming was the only way, hot stuff -- and given a chance I probably would have used the tractor, Dad's first, a 1936 Model "A" John Deere, to go bring in the cows! And I think Dad was ready for some automation too. And so it was that we acquired a good, used J. I. Case, wire tie hay baler. In addition to a person to drive th
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