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Incentive
A thing that motivates or encourages one to do something.
In this video, we show how the price system allows for people with dispersed knowledge and information about rose production to coordinate global economic activity.
In this video, we show how the price system allows for people with dispersed knowledge and information about rose production to coordinate global economic activity.
What if there were no prices? How would you use available resources? To appreciate why market prices are essential to human well-being, consider what a fix we would be in without them.
What if there were no prices? How would you use available resources? To appreciate why market prices are essential to human well-being, consider what a fix we would be in without them.
