Principles of Economics
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In our eReader you can find the full English version of the book. Read Principles of Economics Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Principles of Economics
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What determines the prices which in the long run buyers stand ready to pay for a given quantity of goods? In answering this question, it is necessary that we should go to the schedule of the individual buyer and ask ourselves what motive or motives finally determine his conduct. For, obviously, the general or social schedules with which we have to deal are composites or aggregates of numerous individual schedules. Thus, when we say that, according to the general demand schedule for silver, 180,... 000, 000 ounces are wanted if price is 55 cents, we mean that the different amounts of demand at 55 cents from the schedules of all the different buyers of silver will, when added to- gether, give a sum of 180, 000, 000 ounces.
The student should not, of course, be misled by this emphasis upon the priority of individual schedules over the general market schedule, into thinking those individual demand schedules are made up independently of social forces. The wants of any individual, and, therefore, the valuations which he puts upon goods, are necessarily in a very great measure the creation of the community in which he lives, just because his standards, ideals, and tastes arc in great meas- ure the creation of that community.
What to read after Principles of Economics?
You can find similar books in the "Read Also" column, or choose other free books by F M Fred Manville Taylor to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
What determines the prices which in the long run buyers stand ready to pay for a given quantity of goods? In answering this question, it is necessary that we should go to the schedule of the individual buyer and ask ourselves what motive or motives finally determine his conduct. For, obviously, the general or social schedules with which we have to deal are composites or aggregates of numerous individual schedules. Thus, when we say that, according to the general demand schedule for silver, 180,... 000, 000 ounces are wanted if price is 55 cents, we mean that the different amounts of demand at 55 cents from the schedules of all the different buyers of silver will, when added to- gether, give a sum of 180, 000, 000 ounces.
The student should not, of course, be misled by this emphasis upon the priority of individual schedules over the general market schedule, into thinking those individual demand schedules are made up independently of social forces. The wants of any individual, and, therefore, the valuations which he puts upon goods, are necessarily in a very great measure the creation of the community in which he lives, just because his standards, ideals, and tastes arc in great meas- ure the creation of that community.
What to read after Principles of Economics?
You can find similar books in the "Read Also" column, or choose other free books by F M Fred Manville Taylor to read onlineMoreLess
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