A Price Is a Signal Wrapped Up in an Incentive
- Title:
- A Price Is a Signal Wrapped Up in an Incentive
- Description:
-
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Join Professor Tabarrok in exploring the mystery and marvel of prices. We take a look at how oil prices signal the scarcity of oil and the value of its alternative uses. Following up on our previous video, “I, Rose,” we show how the price system allows for people with dispersed knowledge and information about rose production to coordinate global economic activity. This global production of roses reveals how the price system is emergent, and not the product of human design.
Microeconomics Course: http://mruniversity.com/courses/princ...
Ask a question about the video: http://mruniversity.com/courses/principles-economics-microeconomics/price-system-spontaneous-order#QandA
Next video: http://mruniversity.com/courses/principles-economics-microeconomics/markets-link-world
- Video Language:
- English
- Team:
- Marginal Revolution University
- Project:
- Micro
- Duration:
- 04:47
Lilian Chiu edited Chinese, Traditional subtitles for A Price Is a Signal Wrapped Up in an Incentive | ||
Lilian Chiu edited Chinese, Traditional subtitles for A Price Is a Signal Wrapped Up in an Incentive | ||
anh1970 edited Vietnamese subtitles for A Price Is a Signal Wrapped Up in an Incentive | ||
anh1970 edited Vietnamese subtitles for A Price Is a Signal Wrapped Up in an Incentive | ||
anh1970 edited Vietnamese subtitles for A Price Is a Signal Wrapped Up in an Incentive | ||
anh1970 edited Vietnamese subtitles for A Price Is a Signal Wrapped Up in an Incentive | ||
anh1970 edited Vietnamese subtitles for A Price Is a Signal Wrapped Up in an Incentive | ||
anh1970 edited Vietnamese subtitles for A Price Is a Signal Wrapped Up in an Incentive |