Market rate

I've heard the term "market rate" in economics classrooms, but it is much more tangible when I stand in a market. Kimironko Market is the big one that we go to, and there is an immense selection of potatoes and bananas and anything else that grows in Rwanda. "How much do your potatoes cost?" If the answer seems to high, there are dozens of other sellers with identical quality potatoes. I keep walking around enough and I will learn exactly what the "market rate" is. Everyone in the market knows what the market rate is, too. But again, it's different to get the concept and feel the concept as I walk around and shop.

I bought market rate flowers, recently. Downtown, flowers are cheaper. I have to figure that out, because it doesn't make sense. The flowers don't grow downtown, how do they magically get cheaper the farther they travel? I've bought flowers downtown before, our 2nd wedding anniversary, and got a great deal on an assorted bouquet ($2.69). So, this time, we have friends coming over for a dinner party and it's Friday and it's a new year, so I decide to get Danielle more flowers. Some young men stand with bouquets near a market going uphill towards town, and I pass there on my way home or into town, just near Stipp Hotel. Why not check the prices and save myself a little longer trip?

I pull over, the first young man walks over quickly with his bouquet. Immediately, three others run over with their identical bouquets. Now I'm thinking, maybe these flowers will be market rate. The first bouquet enters my driver-side window under my nose. He asks 2500 RWF ($4.50). In my pocket, I know I have 1000 RWF ($1.80). I ask if he's willing to take 1000. He's not so eager for 1000, but his bouquet is still inside my window. So I then ask the other three if any of them are willing to take 1000 for their identical bouquets. Before they have any chance, the first seller is now willing to take 1000.

Living in Kigali is not cheap, so I enjoy the luxury of fresh flowers at market rate.