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Our collection of revision videos covering the economics of the price mechanism. More revision resources are available on the Tutor2u website: https://www.tu...
At its most basic, a price is the amount of money that a buyer gives to a seller in exchange for a good or a service. When someone hands over $2.00 and receives a pound of tomatoes, the price is straightforward observation: $2.00 a pound.
An authoritative and comprehensive dictionary containing 2,500 key economic terms with clear, concise definitions. It covers all aspects of economics including economic theory, applied microeconomics and macroeconomics, labour economics, public economics and public finance, monetary economics, environmental economics, and many others.
This is the dynamic online version of The New Palgrave Dictionary of Economics. Written by leading figures in the field including many Nobel prize winners, this is the definitive scholarly reference work for a new generation of economists. Regularly updated!
Definition: Current Prices measures GDP/ inflation/asset prices using the actual prices we notice in the economy. Current prices make no adjustment for inflation. Constant prices adjust for the effects of inflation.
9 gru 2020 · Contains over 3,000 terms explained in clear, simple language. Topics covered include inflation, exchange rates, macroeconomics, important economists, theories, policies, principles, rules and laws. Originally published: London : Bloomsbury, 2003. Print version record.
Economic Definition of price. Defined. Offline Version: PDF. Term price Definition: An asset or item voluntarily exchanged in a market transaction for another asset or item. This item or asset is usually, but not necessarily, money. A barter transaction occurs if money is NOT one of the assets or items exchanged.
