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To play the devil's advocate, a product that is cheaper to produce, doesn't necessarily sell for a lower price to consumers. The pricing could relate to consume
by freyr 14y ago
To play the devil's advocate, a product that is cheaper to produce, doesn't necessarily sell for a lower price to consumers. The pricing could relate to consumer demand for the product, competitors' prices, etc., rather than being a simple function of the price of production. I'm not an economist, and I might be wrong.
- TeMPOraL 14y agoI'm not an economist either, but what you say is - for what I understand - the consequence of the whole supply/demand concept. There is no global "value" of things, in the end the only real value is what people are willing to pay for it.