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. |