Final Price: Difference between revisions
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The price corresponding to the future state of rest is called the '''final price'''. The prices in a market economy tend toward [[equilibrium]] and '''final prices'''. The fictional [[evenly rotating economy]] | The price corresponding to the [[future state of rest]] is called the '''final price'''. The prices in a market economy tend toward [[equilibrium]] and '''final prices'''. The fictional [[evenly rotating economy]] is in [[equilibrium]] and therefore all prices are final prices.<ref name="Mises_evenly_rotating_economy">[[Ludwig von Mises]]. [http://mises.org/humanaction/chap14sec5.asp XVIII. The Scope and Method of Catallactics], 5. The State of Rest and the Evenly Rotating Economy, [[Human Action]], online version, referenced 2011-02-04.</ref> | ||
==References== | ==References== | ||
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[[Category:Economic concepts]] | |||
Latest revision as of 22:00, 5 February 2011
The price corresponding to the future state of rest is called the final price. The prices in a market economy tend toward equilibrium and final prices. The fictional evenly rotating economy is in equilibrium and therefore all prices are final prices.[1]
References
- ↑ Ludwig von Mises. XVIII. The Scope and Method of Catallactics, 5. The State of Rest and the Evenly Rotating Economy, Human Action, online version, referenced 2011-02-04.