The quantity of money, which is readily parted with to…
“The quantity of money, which is readily parted with to obtain a thing is called its price.”
About This Quote
This interpretation was drafted with AI assistance. It is one reading of the quote, not the author's own explanation.
The price of a good is the amount of money people are willing to give up to obtain it.
In simple terms: Price equals what people pay.
Key Takeaway
Consider willingness to pay when valuing items.
Themes
economics
valuation
money
trade
market
Mood
analytical
pragmatic
Type
economic
philosophical
When to use this quote
- pricing strategy
- budgeting
- consumer choice
- business negotiations
Key Concepts
utility
subjective value
exchange theory
Questions to Reflect On
- What factors influence willingness to pay?
- How does scarcity affect price perception?
A Different Perspective
Price may not reflect true societal value.