Examples of Price mechanism in the following topics:
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- Market failure occurs when the price mechanism fails to account for all of the costs and benefits necessary to provide and consume a good.
- Market failure occurs when the price mechanism fails to account for all of the costs and benefits necessary to provide and consume a good.
- Prior to market failure, the supply and demand within the market do not produce quantities of the goods where the price reflects the marginal benefit of consumption.
- subsidies - reducing the price of a good based on the public benefit that is gained.
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- High-low pricing is a strategy where most goods offered are priced higher than competitors, but lower prices are offered on other key items.
- High-low pricing is a method of pricing for an organization where the goods or services offered by the organization are regularly priced higher than competitors.
- The lower promotional prices are designed to bring customers to the organization where the customer is offered the promotional product as well as the regular higher priced products.
- High-low pricing is a type of pricing strategy adopted by companies, usually small and medium sized retail firms.
- The way competition prevails in the shoe industry is through high-low price.
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- One pricing strategy does not fit all, thus adapting various pricing strategies to new scenarios is necessary for a firm to stay viable.
- Cost-plus pricing is the simplest pricing method.
- A flexible pricing mechanism made possible by advances in information technology, and employed mostly by Internet based companies.
- Non-price competition means that organizations use strategies other than price to attract customers.
- Business people prefer to use non-price competition rather than price competition, because it is more difficult to match non-price characteristics.
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- The mechanisms of supply and demand in a competitive market determine the price and quantities of products.
- In a market characterized by perfect competition, price is determined through the mechanisms of supply and demand.
- You're typically willing to buy less of a product when prices rise and more of a product when prices fall.
- Businesses are more willing to sell a product when the price rises and less willing to sell it when prices fall.
- We can now see how the market mechanism works under perfect competition.
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- Increasing market share is one of the most important objectives of business and pricing may offer a mechanism to increase share.
- Price increases are rare and this was a large one, at least on a percentage basis; the new price is nearly double the old one.
- The pricing decision has to be seen in the context of a longer-term strategy.
- Again, pricing strategy is one of the tools that is significant in creating and sustaining market share.
- Prices must be set to attract the appropriate market segment in significant numbers.
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- This is a mechanical, static conception of equilibrium.
- In Figure III.A.9, If the price were at $20. the price is "too high" and the market is not in equilibrium.
- Sellers have 17 units that are not sold at this price.
- When the market price is below the equilibrium price the quantity demanded exceeds the quantity supplied.
- The buyers will "bid up" the price by offering a higher price to get the quantity they want.
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- One defining component of markets is the medium of exchange, or the price.
- In market systems, prices are discoverable; both buyers and sellers are capable of finding out the current price at which a transaction could occur.
- Publishing current prices is a key component with a market system.
- The prices at which those sales occur is recorded, and is the basis for the stock price you may have seen in the newspaper or on TV.
- Another important component of market systems is that there is competition, which serves as the main regulatory mechanism.
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- The early 1920s saw
a rapid expansion in the American agricultural economy, largely due to new technologies
and mechanization.
- This caused
the collapse of land prices after the wartime bubble when farmers used high
prices to buy up tracts of land at high prices, saddling them with heavy debts.
- According
to the bill, a federal agency would be created to support and protect domestic
farm prices by attempting to maintain price levels that existed before the World
War I.
- In
terms of maintaining the rural population, mechanization proved to be a
double-edged sword.
- On the other hand, mechanization displaced
unskilled farm laborers who were no longer needed in the same numbers.
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- Income, quantities of goods and prices are more easily measured.
- There are many complexities in measuring incomes, quantities of goods and prices.
- This view requires a social mechanism or institution to coordinate or constrain the behavior of individuals.
- The price of a good is perceived as an indicator of its value.
- If prices are distorted by lack of information or imperfections in the social institutions, the rankings based on relative prices may be misleading.
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- Jeremy Bentham [1748-1832] attempted to make "utilitarianism" the operative mechanism to improve the welfare of society.
- The maximum price the buyer is willing and able to pay for a good is called the "reservation price of the buyer (RPB)" and the minimum price the seller will accept for the good is the "reservation price of the seller (RPS)."
- The use of money results in monetary prices rather than prices in terms of other goods.
- The monetary price of cola will be labeled, PC, the price of tea Pt.
- In microeconomics it is the relative prices that are important.