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Price

The amount paid for a unit of a good or service. Prices reflect the supply of and demand for a good or service. All else held equal, the price of a good or service increases as either demand increases or as supply falls. Similarly all else held equal, a fall in price occurs as demand decreases or supply increases.
 

Paul Cwik - Problems and Prices

 

Anthony Carilli - Austrian Economics: Praxeology, Supply, and Demand

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Indispensable prices.

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Not Just What, But How

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Price Controls and Rationing Led to Law-Breaking and Black Markets

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October 2014

Heavily-armed police and their supporters will tell you they need all those armored trucks and heavy guns. It's a dangerous job, not least because Americans have so many guns. But the numbers just don't support these claims: Policing is safer than ever--and it's safer than a lot of common jobs by comparison. Daniel Bier has the analysis. Plus, Iain Murray and Wendy McElroy look at how the Feds are recruiting more and more Americans to do their policework for them.
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