BEGINNER

Price

MARCH 16, 2013

The amount paid for a unit of a good or service. Prices reflect the supply of and demand for a good or service. All else held equal, the price of a good or service increases as either demand increases or as supply falls. Similarly all else held equal, a fall in price occurs as demand decreases or supply increases.
 

Paul Cwik - Problems and Prices

 

Anthony Carilli - Austrian Economics: Praxeology, Supply, and Demand

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For centuries, hierarchical models dominated human organizations. Kings, warlords, and emperors could rally groups--but also oppress them. Non-hierarchical forms of organization, though, are increasingly defining our lives. It's no secret how this shift has benefited out social lives, including dating, and it's becoming more commonplace even in the corporate world. But it has also now come even to organizations bent on domination rather than human flourishing, as the Islamic State shows. If even destructive groups rely on this form of entrepreneurial organization, then hierarchy's time could truly be coming to an end.
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