Economics Dictionary of ArgumentsHome
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| Price: In economics, price refers to the monetary value assigned to goods, services, or assets in a market exchange. It represents the equilibrium point where supply and demand intersect, determining the quantity of a product traded. Prices convey information about scarcity, preferences, production costs, and market dynamics, influencing consumer behavior and resource allocation. See also Demand, Supply, Markets, Value theories._____________Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments. | |||
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Microeconomics on Price - Dictionary of Arguments
Mause I 467 Price/Behavioural Control/Microeconomics: A basic microeconomic principle is that any relative price change has an impact on the consumption decisions of individual economic actors and triggers substitution processes. Example: Transport policy: If a road user has to pay a fee in addition to his time and operating costs for the use of a road section in a congestion-prone period (e.g. rush hour traffic), there is an incentive to switch to an alternative point in time, an alternative route or an alternative means of transport. The optimum amount of this additional charge corresponds exactly to the additional costs for all other road users caused by each additional road user on an overused road section (cf. Yan and Lam 1996, p. 319)(1). >Transport policy. 1. Yan, Hai, und William H. K. Lam. 1996. Optimal road tolls under conditions of queueing and congestion. Transportation Research Part A: Policy and Practice 30 (5): 319– 332._____________Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition. |
Microeconomics Mause I Karsten Mause Christian Müller Klaus Schubert, Politik und Wirtschaft: Ein integratives Kompendium Wiesbaden 2018 |
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