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>I think I found your problem: you're not familiar enough with the English language. That's a highly offensive insult. But I'll take your bait. Lets talk abou
by crimsonalucard 11y ago
>I think I found your problem: you're not familiar enough with the English language.
That's a highly offensive insult. But I'll take your bait.
Lets talk about the english language and how it's used in conjunction with the word value when discussing certain topics. When we talk about marketing we use the MARKETING DEFINITION of value. When we talk about economics we use the ECONOMIC DEFINITION of value. The definition of a word changes depending on the context. These are typical language concepts that exist both in the English language and other languages as well.
Since we are talking about the law of supply and demand I would venture a guess that we're talking about economics rather than marketing. Thus by context and by common sense we are using the ECONOMIC DEFINITION of value. See the ECONOMIC DEFINITION of value below:
https://en.wikipedia.org/wiki/Value_(economics) https://en.wikipedia.org/wiki/Value_(economics)
The quote below on "what is the definition of value?" is taken directly from the wikipedia link above and is located in the first paragraph:
"the maximum amount of money a specific actor is willing and able to pay for the good or service"
Try going through that sentence with a dictionary at hand.
- stefantalpalaru 11y agoIt makes no sense to talk about the economic value of goods that are not on sale, like the air you breathe. You remember, the item you claimed it's worthless?
- crimsonalucard 11y agoAnything can be made for sale if there is enough demand and a limited supply. The law of supply and demand applies to everything regardless of whether or not it is for sale. If an item is not for sale it usually means there is either no supply, an unlimited supply, or no demand. See what happens when the supply of clean air is limited below: https://news.vice.com/article/beijings-air-is-so-bad-the-sale-of-fresh-canadian-mountain-air-is-soaring https://news.vice.com/article/beijings-air-is-so-bad-the-sal... >You remember, the item you claimed it's worthless? I do. What of it? There are people in this world who will pay nothing for that item because it is freely downloadable through piracy. To them, the item is worthless.