July 25, 2015
Our everyday economics includes productivity, markets, prices, externalities, social norms, distribution, scarcity, environment, regulation, monetary union.
Our everyday economics includes productivity, markets, prices, externalities, social norms, distribution, scarcity, environment, regulation, monetary union.
Left to fluctuate freely, a price can tell us information about social norms, efficiency, technology, incentives, quality and supply and demand.