EPISODE · Jan 6, 2011 · 42 MIN
Episode 12: The Price System
from The Science of Everything Podcast · host James Fodor
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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Episode 12: The Price System
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