Tag Archives: marginal utility

How customers decide what to buy

It is human dreams and goals which provide the motive force for market processes. Economics depends, for its understanding of market processes, upon the alert purposefulness, the purposeful alertness, of human beings. In these processes the controlling principle is goal-motivated … Continue reading

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What determines the price of anything

Most people think that the price of anything is determined by the sellers: the companies that manufacture or sell the products. In the short run, that may be true; but it is not true in the long run.  A product … Continue reading

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