Elementary Principles of Economics
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In our eReader you can find the full English version of the book. Read Elementary Principles of Economics Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Elementary Principles of Economics
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Another class of goods, the price of which cannot fluctu- ate greatly with other prices, are those special commodi- ties which consist largely of the money metal. Thus, in a country employing a gold standard, the prices of gold for dentistry, of gold rings and ornaments, gold watches, gold- rimmed spectacles, gilded picture frames, etc., instead of varying in proportion to other prices, always vary in a smaller proportion. The range of variation is the nar- rower, the more predominantly the pri...ce of the article de- pends upon the gold as one of its raw materials.
From the fact that gold-made articles are thus more or less securely tied in value to the gold standard, it follows also that the prices of substitutes for such articles will tend to vary less than prices in general. These substitute articles will include silver watches, ornaments of silver, and various other forms of jewelry, whether containing gold or not.
A further dispersion of prices is produced by the fact that the special forces of supply and demand are playing on 228 ELEMENTARY PRINCIPLES OF ECONOMICS [Chap.
What to read after Elementary Principles of Economics?
You can find similar books in the "Read Also" column, or choose other free books by Irving Fisher to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
Another class of goods, the price of which cannot fluctu- ate greatly with other prices, are those special commodi- ties which consist largely of the money metal. Thus, in a country employing a gold standard, the prices of gold for dentistry, of gold rings and ornaments, gold watches, gold- rimmed spectacles, gilded picture frames, etc., instead of varying in proportion to other prices, always vary in a smaller proportion. The range of variation is the nar- rower, the more predominantly the pri...ce of the article de- pends upon the gold as one of its raw materials.
From the fact that gold-made articles are thus more or less securely tied in value to the gold standard, it follows also that the prices of substitutes for such articles will tend to vary less than prices in general. These substitute articles will include silver watches, ornaments of silver, and various other forms of jewelry, whether containing gold or not.
A further dispersion of prices is produced by the fact that the special forces of supply and demand are playing on 228 ELEMENTARY PRINCIPLES OF ECONOMICS [Chap.
What to read after Elementary Principles of Economics?
You can find similar books in the "Read Also" column, or choose other free books by Irving Fisher to read onlineMoreLess
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