I saw an interview with an economist years ago where he said that if we just followed the accepted rules of rounding (1-4 rounds to 0, 5-10 rounds to 10) then it would work out about the same. In reality I’m sure companies would just pocket the extra money
There’s still a fuck ton of pennies in circulation and on the ground, unless they consider them no longer legal tender we’ll have plenty.
However, if we end up following how Brazil does it, in my experience, it depends on the person/vendor and the amount. If you buy something that’s like R$3,99 you’ll usually get give them R$4 and that’s it. I’ve also had it where I’ll pay for something that’s say R$4,89, give them R$5 and get 15 or 25 centavos back. Could also depend on what’s in the drawer at that time.
Corporations will 100% pocket the difference at first, but once it becomes a normal thing to do the rounding I’ll wager it’ll fall to the Brazilian method, especially with local businesses or vendors.
So what happens when someone pays cash at the supermarket? Who rounds up?
I saw an interview with an economist years ago where he said that if we just followed the accepted rules of rounding (1-4 rounds to 0, 5-10 rounds to 10) then it would work out about the same. In reality I’m sure companies would just pocket the extra money
There’s still a fuck ton of pennies in circulation and on the ground, unless they consider them no longer legal tender we’ll have plenty.
However, if we end up following how Brazil does it, in my experience, it depends on the person/vendor and the amount. If you buy something that’s like R$3,99 you’ll usually get give them R$4 and that’s it. I’ve also had it where I’ll pay for something that’s say R$4,89, give them R$5 and get 15 or 25 centavos back. Could also depend on what’s in the drawer at that time.
Corporations will 100% pocket the difference at first, but once it becomes a normal thing to do the rounding I’ll wager it’ll fall to the Brazilian method, especially with local businesses or vendors.
In other words, no register will ever come out balanced.