Why Uber is an Economists dream

It has been estimated that currently, Uber is used by 30 million people globally each month. In one month, Uber makes approximately 62 million trips on a monthly basis. However, it is not loved globally because it is a threat to the traditional taxicab industries. But Uber is more than just a player in the taxi and cab industry, it has been considered an economist’s dream. One of the reasons why Uber is considered an economist’s dream is because it reflects real time interface of the forces of demand and supply. However, to others, the interplay of demand and supply is something that exists but there is no real life situation that can be used to make it a reality. With the data from Uber, the concept of demand and supply has become an artificial construct, which is valuable for organizing the real world and knowing how various economics problems can be analyzed.