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madamswer

17,029 Posts.

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03/07/23

13:19

Post #: 68588875
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Originally posted by pintohoo ↑

''Supply and demand.''

supply and demand IS PRICE gouging

for years business has bandied about the terms 'normal business', 'Supply and demand.'

so much so that people just accept that 'Supply and demand.' is a normal business factor

everyone knows it ---------- everyone knows that if lots more people want a widget and that a business person has 100 widgets for sale

then if hundreds want a widget ----------- as the stock of 100 widgets gets down to 5 widgets --------- the price goes up

because supply is short and demand is high

what we miss is the point ---------------- that the last 2 widgets cost the business exactly the same as the previous 98 widgets - so the business is merely ------------PRICE GOUGING

people are so accepting of supply and demand - the yarn that's been sold to them by business - that they don't recognise it for what it is -

abuse

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Time and time again the resident Marxists demonstrate absolutely zero understanding of the principles of marginal propensity to consume and marginal propensity to produce.

The market clears at the price level where willing buyer meets willing seller.

Quod Erat Demonstrandum.

Last edited by madamswer: 03/07/23
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