Also known as ECON101 - A phrase styled after the usual name of an introductory economics module at university or college. It's usually used by libertarians and conservatives to explain away the problems of capitalism, with the implication that their interlocutor "simply doesn't understand basic economics", even though a lot of said basic economics go on to be debunked in Economics 201.
Lib: "The minimum wage was introduced so that every employed person could afford food and rent, but ever since the Reagan administration, wages haven't been following the massive increases in productivity, as well as skyrocketing rent."
Cons: "Bruh, that's dumb - raising wages means people must get fired! Also, rent is increasing because more people want to rent! Supply and demand - it's just Economics 101."
Cons: "Bruh, that's dumb - raising wages means people must get fired! Also, rent is increasing because more people want to rent! Supply and demand - it's just Economics 101."
by obnoxious_leftie July 10, 2022
Get the Economics 101 mug.When a collection of Sigma Gigachads ignore the status quo in voting on what they think the correct answer is, but to have the result of the vote become deadlocked. When this occurs the voting system will show its true design and will result in a total percentage of over 100%.
Josh Sussy Hayes: Everyone that says I am second monitor content is indeed 101% Based.
Pipkin Pippa: The Weatherman is 101% Based
Pipkin Pippa: The Weatherman is 101% Based
by itsBigTiger June 22, 2022
Get the 101% Based mug.An animated series created in 1997 by Disney in collab with Jumbo Pictures based off the classic Disney film of the same name and centers on only three of the original characters (Lucky Dalmatian, Cadpig Dalmatian and Rolly Dalmatian), as well as an additional character, Spot Chicken.
by RagingFire10 July 3, 2022
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