Question

Topic: Student Questions

Pricing And Consumption

Posted by Anonymous on 6/10/2005 at 3:39 PM ET 250 Points
how could consumption go hand in hand with setting prices in retail industry???
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  • Posted by Peter (henna gaijin) on 6/10/2005 at 4:44 PM Accepted
    Basic economic classes cover something called supply and demand - this describes what I think you are asking.

    Check out a basic economics text book for information, or sites like https://en.wikipedia.org/wiki/Supply_and_demand
  • Posted by Pepper Blue on 6/10/2005 at 5:13 PM Accepted
    Hi anubhabansa,

    Also known as the general equilibrium theory, it involves the relationships among all the entities in an economy - consumers, producers, prices, and the markets in which they exchange products. Generally considered the cornerstone of microeconomic theory.

    Enter "general equilbrum theory" into Google and you should find links to websites and PDFs that give you solid examples.

    I hope that helps.
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