What is the Market Place exactly?. Economic Origami and how the market place is like a football field. First the Economic Origami. First fold your paper in thirds like you are folding a letter. Make this in the middle Title this the Marketplace. $. Part two the end zones.
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What is the Market Place exactly?
Economic Origami and how the market place is like a football field
First fold your paper in thirds like you are folding a letter.
Next fold both sides in
about 2 1/2 inches to make
Flaps on the sides
We will look at three ways to compare
the marketplace to a football game:
1.The field itself and its players
2.The action on the field
3.How to get on the field in the first place
Team 1 The Buyers (end zone)
Team 2 The Sellers ( end zone)
This creates an opportunity for the two teams to fight it out in the market place to determine the price of the good or service:
The buyers want rock bottom prices
The sellers want Massive profits
Who will prevail?
The Real Income Effect
The Substitution Effect
Law of Diminishing Marginal Utility
Cheap Goods and Services
The results of these forces meeting in the market place create the prices we find in our stores QPQ