Episode 12: The Price System - The Science of Everything ...

What this episode covers

An examination of how the price system works, including an introduction to supply and demand theory, and the concepts of clearing the market and surplus maximisation. We also look at how the price system promotes efficiency helps to regulate economic activity. Also includes a discussion of how prices store and communicate economic information.

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Frequently Asked Questions

How long is this episode of The Science of Everything Podcast?

This episode is 42 minutes long.

When was this The Science of Everything Podcast episode published?

This episode was published on January 6, 2011.

What is this episode about?

An examination of how the price system works, including an introduction to supply and demand theory, and the concepts of clearing the market and surplus maximisation. We also look at how the price system promotes efficiency helps to regulate...

Can I download this The Science of Everything Podcast episode?

Yes, you can download this episode by clicking the download button on the episode player, or subscribe to the podcast in your preferred podcast app for automatic downloads.