In an exchange economy, where goods or services are well-made and exchanged for one another’s needs in the market, rather than through barter, ‘price’ holds significant importance. The key to business success lies in understanding the prime cost and establishing a ‘price’ based on that cost. If sales surge when a product that typically does not sell well is offered at a very low price, there must be a reason for the low price, as well as an explanation for why it does not sell at a higher price. The price results from the interaction of producers, consumers, and all other market variables. To identify the causes of problems in your business, you must first examine the price adequacy of the product or service you are selling. Price is not merely a number. - Joseph’s “just my thoughts”
A person adopts a position, and that position shapes the person once more. People form relationships, and those relationships, in turn, shape individuals again. In a system where cause and effect are continuously interlinked, it’s quite easy to embody either a bad person or a good person. Situations and relationships can influence individuals, but people remain at the core of it all. How are good people and bad people determined? Do good people and bad people genuinely exist within this feedback system? How do we distinguish between cause and effect? - Joseph’s “just my thoughts”