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Markets and prices — supply, demand, elasticity
economics
Price settles where supply meets demand, and elasticity measures how quantity answers a price change (sealed). The market is a measurement instrument for value, aggregating countless private choices into one public number. Rests on statistics and the mind.
source
Narrow Highway — economics
card id
card_econ_markets_prices
address
WIT.codex.FCT/markets-and-prices-supply-demand-elasticity/REF.WITNESSED@narrow-highway
adjoining cards
- part of → Economics — minds that choose, meeting scarcity — a pillar of economics (Markets and prices)
- connects at → Statistics — the normal law and the method of science — elasticity and price data - measured, the statistics of markets
- connects at → The mind — matter aware of itself — a market price is many private choices aggregated
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