Type:

Video

Description:

Prices ensure your demands are supplied- even in times of scarcity. But who decides prices? Manufacturers and stores play a role, of course. As Professor Don Boudreaux explains, though, the biggest decider in determining prices is you, the consumer. Prices reflect the value consumers think the products are worth. Whether it’s the price of a bottle of ketchup or a Hermes Birkin purse, the price-tag is the end result of a “global chain of cooperation.”

Subjects:

  • Social Studies > Economics

Education Levels:

  • Grade 11
  • Grade 12
  • Higher Education

Keywords:

prices, capitalism, economics, resources

Language:

English

Access Privileges:

Public - Available to anyone

License Deed:

Creative Commons Attribution 3.0

Collections:

None
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