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mLine 7:
Line 7: − − Millions of businesses succeed or fail based on how they price their goods or services. Price fluctuations, such as the repeated increase in gas prices, can surprise even experts in economics. But amid all that is not understood, there are some simple truths that can be learned.
Economics Lecture Two (view source)
Revision as of 03:29, February 26, 2013
, 03:29, February 26, 2013trim
The above example is the sale of a good (a candy bar). The same analysis applies to the sale of services (such as a car mechanic repairing cars). People sell their time as much as they sell what they own. In this sense, "'''''time is money'''''" because time can be converted into money by spending that time working. You could convert 8 hours of time into about $60 by working at McDonalds, for example.
The above example is the sale of a good (a candy bar). The same analysis applies to the sale of services (such as a car mechanic repairing cars). People sell their time as much as they sell what they own. In this sense, "'''''time is money'''''" because time can be converted into money by spending that time working. You could convert 8 hours of time into about $60 by working at McDonalds, for example.
== Price of Stocks ==
== Price of Stocks ==