Psychology Dictionary of Arguments

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Price: In economics, price refers to the monetary value assigned to goods, services, or assets in a market exchange. It represents the equilibrium point where supply and demand intersect, determining the quantity of a product traded. Prices convey information about scarcity, preferences, production costs, and market dynamics, influencing consumer behavior and resource allocation. See also Demand, Supply, Markets, Value theories.
Annotation: The above characterizations of concepts are neither definitions nor exhausting presentations of problems related to them. Instead, they are intended to give a short introduction to the contributions below. – Lexicon of Arguments.

Author Concept Summary/Quotes Sources

Thomas Aquinas on Price - Dictionary of Arguments

Mause I 29
Price/Economy/Thomas Aquinas: Based on the principle of commutative justice in Aristotle, Thomas Aquinas defines the fair price ("ius pretium") as the price at which performance and return service correspond. And, contrary to the current view, this is not necessarily the case with every (voluntary) market transaction, but only if the price covers the work deployed and the other costs. The decisive factor in determining the fair price is therefore supply, whereas demand is irrelevant.
Since a cost-covering price is guaranteed and profits are limited, economic structural change (...) is made more difficult.

Explanation of symbols: Roman numerals indicate the source, arabic numerals indicate the page number. The corresponding books are indicated on the right hand side. ((s)…): Comment by the sender of the contribution. Translations: Dictionary of Arguments
The note [Concept/Author], [Author1]Vs[Author2] or [Author]Vs[term] resp. "problem:"/"solution:", "old:"/"new:" and "thesis:" is an addition from the Dictionary of Arguments. If a German edition is specified, the page numbers refer to this edition.

Mause I
Karsten Mause
Christian Müller
Klaus Schubert,
Politik und Wirtschaft: Ein integratives Kompendium Wiesbaden 2018

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