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Should the USA keep the Penny?
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| ninja |
Posted on 04/12/2013 06:32:53
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Super Admin
Posts: 4174
Joined: 15.11.10
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Keep on topic please! It would be nice to actually have a debate rather than spamming ridiculous names for currencies.
Any response to my earlier point against scrapping the penny?
ninja wrote:
One reason that retailers might be against this change is that it would lead to a profit loss. For example, they would have to change their price from 10.99 to 10.95, losing 4p of profit per item, which would certainly add up over large quantities of stock.
For small businesses, this loss could be detrimental!
My brain is open.
- Paul Erdős |
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| The Hat of Love |
Posted on 04/12/2013 08:47:07
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ShawnPeezy
Posts: 9035
Joined: 31.07.11
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Would it? It would be less detrimental than removing the halfpenny in 1984 and certainly less detrimental than when the US half cent in the 19th century - the half cent was worth more then than a dime is today (http://youtu.be/y...7U?t=3m20s). If we can get rid of a coin worth over 10 cents we can get rid of a coin worth 1.
my signature broke, here is a fox snek:
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| ninja |
Posted on 04/12/2013 09:09:53
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Super Admin
Posts: 4174
Joined: 15.11.10
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Comparing the value of coins from two different times isn't really valid. If you want to make a change now you need to consider the effects that it will have on society these days, not many years ago. A huge proportion of items cost xx.99 so this would have a major effect, and needs to be taken in consideration.
My brain is open.
- Paul Erdős |
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| ZA Bvigil |
Posted on 04/12/2013 17:06:35
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Admin
Posts: 2161
Joined: 15.11.10
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Raise the price a penny instead of lowering it 4
It would not affect consumers or businesses in any detrimental way
Just like we learned in like 2nd grade math
Round up and round down
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| ZA BrickSquad |
Posted on 04/12/2013 23:51:10
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ShawnPeezy
Posts: 5303
Joined: 12.05.11
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Hercules wrote:
ODST wrote:
ZA Code wrote:
USA and UK should join europe and all use the euro
i would not want that, no offense code, till europe gets there act together (greece, spain, so forth) then i would join the euro. its a great idea. just like the american dollar. the only prob with the euro is a whole bunch of different governments coordinate and use it. since theres nnot just one country, if one decides to do something, the others cant protest since there not one government. ie, one wants to spend lots of money, very wasteful so forth, and the others have to pay for it  . but back to penny. its more to produce in the u.s. then its worth. change the formula to get it cheaper to produce or get rid of it 
I would have to agree with odis. Europe is in complete shambles right now and the U.S. should not follow suit. The U.S. is currently on economic recovery and the Dow, NASDAQ etc... stocks have spiked hard. I would have too say other way around. Maybe do away with the euro and become USD.
Hmm... ODST, you're right on the money! Because the amount of money/and it's value is usually determined by several factors, then imagine having so many countries using one currency. |
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| ninja |
Posted on 04/13/2013 18:56:27
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Super Admin
Posts: 4174
Joined: 15.11.10
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ZA Bvigil wrote:
Raise the price a penny instead of lowering it 4
It would not affect consumers or businesses in any detrimental way
Just like we learned in like 2nd grade math
Round up and round down
I can think of 2 reasons why retailers would be opposed to your proposition.
1) Prices marked as xx.99 have a psychological effect of making the buyer think that they're getting a bargain. An item for 9.99 is less than 10 - it may sound trivial, but studies have shown that this is the case (http://e-archivo....110503.pdf). Thus it is a useful marketing technique to be able to price items as such. Clearly, 9.95 would have a similar effect, whereas simply 10 wouldn't.
2) Prices that are not rounded to the nearest dollar (or pound) tend to require the cashier to give change. This means that the cashier has to register the sale with the cash register, and therefore can't just pocket the money from the consumer. Thus, non-round prices allow the shop managers to ensure that their employees are working honestly, and reduce any loss in profit from such theft.
My brain is open.
- Paul Erdős |
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| ZA BrickSquad |
Posted on 04/13/2013 20:52:09
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ShawnPeezy
Posts: 5303
Joined: 12.05.11
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I thought I was the only one that knew about the 99-cent things. It is a very good marketing strategy to get consumers to buy =P |
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