Market economies goal = get goods to people who value them the most.
Price system
-ration by price system = people decide/ration for themselves = economize
-prices = consumers look at values and tradeoffs
Can healthcare be independent of consumer characteristics?
-equal access = coin flip chance
-illegal to sell kidneys = higher marginal value on a kidney
transactions = money changes the nature of a transaction
-batering is ineffiecient - hard to find people to barter with
-prices allocate goods - assign values to goods (lowers transaction costs)
No comments:
Post a Comment