Santa goes back to basics in attempt to reduce the cost of Christmas

A big hat tip to Sam Lavery on the EconomicsTeacher Twitter Group for spotting a useful topical piece in the Telegraph. The Toy Industry Association’s annual list of the top Christmas sellers (based on what they know toy shops to have ordered from suppliers) shows the average price of the toys in the basket has almost halved for Chirstmas 2009. Electronic gizmos are out (along with their high selling prices); traditional favourites are back in. However, there is still plenty of evidence of innovation - particularly amongst long-standing brands like Monopoly and Lego.