What are Prices?

2 years ago
1

https://mrdevinney.com/what-are-prices/

Prices are simply ratios of one thing for another. Goods and services are bought and sold with money prices outside of the occasional barter. Prices are the agreed upon ratios at which the parties exchange. Both parties expect to receive more than they give away. The exchange will not happen if one of the parties expects to receive less than he gives away. The recurrence of these ratios sets the expectations for future prices.

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