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Reply #56: Demand and relative supply determine price [View All]

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quaker bill

(1000+ posts) Send PM | Profile | Ignore

Sat Apr-30-11 06:14 AM
Response to Reply #54

56. Demand and relative supply determine price

the efficient or inefficient use of labor determines supply. Something that is broadly demanded but plentiful and produced with little labor will generally have a low price. There are abberations to any rule of thumb. Labor can be spent in a manner to produces little or no profit. Labor can also be utilized so efficiently that supply exceeds demand and the value of labor declines.

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