The equivalent value of a good in economic exchange, usually expressed in money. – From an economic point of view, the price’s main function is – to balance supply and demand on the market (equalization function) and – to indicate the scarcity of a good by its level (signal function). – The price also fulfills an incentive function by steering production and investment toward the demand expressed in the price. The factors of production thus switch from production with decreasing profitability to production with increasing profitability: in other words, they end up in the hands of the best host (to the most favorable allocation of resources). – The price mechanism as a whole ensures the coordination of plans both in one market, such as the financial market, and in all related markets (plan coordination function). – The sum offered for the capture of a person alive or dead. – The sum for which favorable reporting, support, consent, etc. may be obtained from a journalist, politician, or office holder. – In a figurative sense, anything that must be given, done, or undergone in order to obtain a thing, including non-economic things such as damage to health or loss of old friends. – [prize] The sum of money or other honor offered for the winner in a contest. – See exercise price, reference price, exchange price, break-even price, defaveur, call money, issue price, creation price, fair value, money purpose, purchase price, market, more active, prize money, repurchase price, kickback, bribe, soft money, forward price, exchange rate, competition.
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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
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https://www.gerhardmerk.de/