Price (economics)
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That Price , also Selling price is in that Economic science the indicator for the scarceness of goods, based at the available quantities and on the need. Prices indicate, without which quantities of other goods one must do, in order to attain a unit of the inquired property. In the sense of Cost price becomes price also contrary to Costs understood, whereby price describes the selling price of a property and costs the expenditure expressed in money for the production of the commodity.
In the literature also the terms become evacuation and balance function for reconciliation between Offer and Demand as well as information and/or. Signal function uses.
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Price formation
The price formation on one polypolistischen free market taken place via the reciprocal effect from supply and demand. The price on a kompetitiven market oscillates itself in such a way, that it supply and demand adjusts (Market equilibrium). The offer is larger than the demand, thus the price sinks. At a deeper price are ready more nachfrager, to buy the product, but less offerer ready, to offer the property. The demand rises and the offer sinks. The price, with that demand and supply are equivalent large, one calls gleichgewichtspreis.
Prices develop each mark, if buyers and salesman one Contract over the property change one Good (Commodity, Service, Demand etc..) close to certain (monetary and others) conditions. Like that is that Course the price of Securities, that Interest the price for borrowed Money.
With removing number of the offerers and customer of a property also the price formation becomes more difficult and more unstable; with a university-lateral Monopoly the offerer determines and/or. the customer exclusively the price; in one bilateral monopoly the selling price calculation is often arbitrary.
Price functions
Signal function of the price
Prices serve in that Economics as wertmassstab for goods. As base factor for the price usually serves Money, which indicates the exchange value of goods. Prices become in particular in that Political economy as Indicators for those Scarceness of Goods regarded. From the costs of a property (price lower bound) on the one hand and the desiringness of a property on the other hand (Demand) its value results.
Example: The costs of a mobile phone can with 100 € lie, its value against it can substantially over that Cost price lie. The value of a property has a negative measure for example, then it is not marketable. The measure of the desiringness is not for example to those Mark, separate only bound to the kind of the property, then the price can even be with the cost price or under it. In practice those becomes Advertisement over the price and those Quality led. It is the task that Marketing departments, the property a favourable Image to give. In times that Recession mediate slogans as "Geiz is geil"the feeling, to buy particularly favorably and/or inexpensive.
Coordination function
Those Households and Enterprise use the price, in order to co-ordinate their individual plans.
Incentive function
The customer is to be animated by low prices, to acquire a property. With the question, as with the help of the price structuring inducements are set, is occupied those Price strategy. High prices are to encourage enterprises, to expand production.
Steering element function
By supply and demand the formed Gleichgewichtspreis ensured with appropriate acceptance and under the normative aims that Neoklassik, that at a given time the existing Factors of production (z. B. Worker) to be used there, where it the largest Use bring (efficient Allokation).
Costs (minimum) and desiringness (maximum)
Costs: Costs of the individual enterprise may not do with that economical costs are confounded. The costs form the price lower bound, if without loss is to be kept house. For that Conversion the costs are however not everything. In addition still the desiringness of a property comes, in order to obtain profits, over those calculatory interest and that Entrepreneur wages (components of the cost price) go out.
Those Desiringness a property is its appreciation, to transfer a certain money supply to the offerer. It gives in that National economy Phases, if for example expectations of the nachfrager are impaired by a negative estimate of the future, to shift or on it do without completely the purchase of a property. If goods are world-wide offered, then still the rate of exchange relationship comes into the play. Therefore the currency relation must become a component of calculations.
Currency relations
The goods can for example in euro, US dollar or Yen to be offered. The conversion of a property into the respective national currency can lead to a price advantage, that the property for the nachfrager makes particularly attractive. Thus an arbitrage advantage can to be realized be able. However this advantage becomes smaller, if the demand for goods from a certain currency area to a strong foreign exchange demand leads itself and thereby the price of the foreign exchange raised the price of.
The offerer/ Salesman and/or nachfrager/ Buyer in a currency area (for example European union) can realize price advantages by different first cost for each region, if the currency relation were set out of strength. A Abpufferung of cost differences by national currencies is void in these cases.
Example: In the European union the relations of the national currencies were time-dependently fixed among themselves, so that the different first cost can bring in for each property the nachfrager unmitelbaren price advantage, if the offerer the price advantage would pass on. The nachfrager spends fewer moneys and can cover thereby additional need. Also the offerer can realize savings, which it can put on otherwise, if the competition this permits (Arbitrage advantage).
However fixing the currency differences in the European Union provokes then adjustment subsidies from tax proceeds, whereby the saving can be taxed away with the purchase by tax increases.
Special fields
Those Price strategy to set pursued mainly the goal with the help of the price structuring of inducements.
Before a product is introduced to the market, a definition should on one Price strategy take place.
Price index is a statistic Konstrukt, a statement about the height of the inflation (Price level) within an economical range to make is.
Web on the left of
The price - some thoughts of John Ruskin Price formation with supply and demand
See also
- Price index
- Price sales volume function
- Tariff
- Costs
- Worth
- Creation of value
- UVP
- Currency
- Mikrooekonomie
