ECONOMICS
DEMAND
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Increase
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Decrease
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Stay the same
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None of the above
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Detailed explanation-1: -Beanie Babies were collectable, they got popular. At some point they became the It thing. People would buy them because they were popular which made their popularity snowball.
Detailed explanation-2: -The market for Beanie Babies crashed alongside the dot-com bubble in 2000. As resale prices fell, collectors cracked open their Rubbermaid containers, and the market was flooded with an avalanche of inventory. The balloon of artificial scarcity was punctured. The resale market nosedived.
Detailed explanation-3: -Yes, there’s still a market for them. And the rarest Beanies are worth thousands. These are the most valuable Beanie Babies today, based on eBay sales.
Detailed explanation-4: -At one point in the late 1990s, a $5 toy mass-produced in China became such a big craze that people-mostly adults-paid thousands of dollars to collect them. But only a few years after Beanie Babies made their creator a billionaire, the stuffed animals became virtually worthless.