Search results
Price theory is concerned with explaining economic activity in terms of the creation and transfer of value, which includes the trade of goods and services between difierent economic agents. A puzzling question addressed by price theory is, for example: why is water so cheap and diamonds
Most of the time, when economists speak of price, they are referring to a market-clearing price—that is, the price at which the amount of a good or service supplied by all sellers in a market is equal to the amount demanded by all buyers.
chapter 1 - what is economics? pa rt i: - p r ic e s a n d m a r k e t s chapter 2 - the role of prices prices and costs supply, demand and “need” chapter 3 - price controls price ceilings and shortages price floors and surpluses the politics of price controls chapter 4 - an overview cause and effect incentives versus goals scarcity and ...
Pricing (Revised: July 2012) These lecture notes cover a number of topics related to strategic pricing. Some of these are topics already presented in 15.013, and some are new. The objective is to provide you with a pricing “toolbox,” i.e., a set of pricing techniques, each of which might apply in some situations but not in others.
European Journal of Economics and Economic Policies: Intervention. On the empirical regularities of Sraffa prices
1 Introduction. Consumer retail prices exhibit a systematic combination of stickiness and exibility. The stickiness of prices|that they can remain unchanged for many months despite changing cost or demand circumstances|has long been considered a stylized fact in industrial organization.
price theory--the analysis of why things cost what they do and of how prices function to coordinate economic activity. This book is organized into six sections.
