Why eating out is so expensive

The economic principle I’m exploring is “Do people gain when they trade voluntarily”

My research question to help me study the economic principle is “How do people know they are paying the right value of money for their everyday essentials , like food”

The article/video/etc published in [medium.com] titled “..[Why eating at restaurants is so expensive]...” demonstrates this economic principle because it argues how one meal could be up to or over $20. Which if you think, is about 2.5 hours of labor at a minimum wage job anywhere. That is just plain ridiculous and is definitely not equal in the tradeoff of money for food.

First, PJ Goupil the author of this page argues that eating out is getting more and more expensive. When you go to eat out and you see a small chicken wing order for $15 , you have to realize how overpriced that is…

He says  ¨ I can make the exact same dish at home and end up only paying 40 percent of the value it costs to eat it outside¨

Meaning the tradeoff of eating outside is very unbalanced.

Second,  He explains how when he went out to eat and said ¨ I only get about $3 worth of food when Im paying $10?¨

The absurd value of eating at a restaurant is not based on the value of the food anymore. These restaurants are looking to make more and more profits everyday. Now I do acknowledge the fact that they have to pay for labor and ingredients and make a bit of profit , but what I can't comprehend is the value the food is sold at when it goes for way less anywhere else.

Third,  The fact is , when you go out to eat you are not getting the same value of food for the value of the money you paid.

Which will influence a lot of decisions I will be making on where I go to eat and if I even go out to eat. However, the truth is eating out at most places is the reason people struggle to  manage their money properly. Eating out is definitely still going to be a thing people do in the future , but for people like me it will be decreasing the amount I go out to eat that will make the changes.

In my next blog post I will research:  How fair do trades get , as the value of the tradables increase. ( houses,cars…)