Sure, Girl Scout cookies are delicious. But are they more delicious because they’re only available for a limited time each year? Scarcity, whether manufactured or real, helps give an item value.
Take diamonds, for example. A large, perfectly cut stone is extremely rare, so it commands a high price. Or the Nintendo Wii, which has sold [...]
When it comes to my entrepreneurial history, I was getting a little smarter by the time high school rolled around. Before heading off for a week at scout camp when I was 15, mom and I stopped at Costco and picked up a box of skittles bags and a big bag of caramel apple pops. [...]
When we were kids, my friends and I would set up shop on the sidewalk with a card table and sell baseball cards. It wasn’t the best business model since pretty much our only customers were each other, and the only thing we’d buy with the proceeds were more baseball cards. Still, there were some [...]
