We all use economic principles in our daily lives, even if we don’t realize it or know that someone has given them names. Like the laws of physics, ignoring them or passing laws or having good intentions doesn’t change them in any way. Actions always have consequenses.

Assuming the continuance of free people and free markets, the trend toward less scarcity and lower real prices of all resources will continue, as it has from the beginning of human civilization.

Find out how restaurants serve everyone each other’s food in order to increases their profits!

This article follows up on an earlier article on how to price your products in such a way that people end up paying the maximum amount that they are willing to pay for it, instead of paying only what is mentioned on the price, or not buying it at all.

In 1911, Dr. Miles Medical Co, a maker of relaxants and other medicines, sued a distributor, John D. Park & Sons Co., for selling at cut rate prices. The company lost the case when the Supreme Court held that it was trading too close to cartel-like trading. The judgment in the case Dr. Miles Medical [...]

Setting a price on your product or service can be one of the most difficult decisions a marketing manager can make. Different people value your product differently. Most of the time, it is impossible to get accurate information regarding the percentage of your target market that are willing to pay a certain price for it.
However, [...]