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Prices: The Marketplace' Communication System

Remember when airlines started charging for checked bags? What happened to the number of checked bags after this added charge? And what happened to the availability of in-cabin storage space on planes? The April 2013 issue answers these questions and discusses the pivotal role price plays in a market economy.

Keywords:: Prices, Economics, Data Literacy, Markets, Market Equilibrium, Incentives, Scarcity

Disciplines:

Business / Economics

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Material Type:: Open (Access) Journal-Article
Date Added to MERLOT:: February 11, 2020
Date Modified in MERLOT:: February 11, 2020
Author:: Federal Reserve Bank of St. Louis
Submitter:: Adrienne Brennecke
Primary Audience:: Middle School, High School, College General Ed, College Lower Division
Technical Format:: PDF

Mobile Compatibility:: Not specified at this time
Language:: English
Cost Involved:: No
Source Code Available:: Unknown
Accessibility Information Available:: Yes
Creative Commons:: This work is licensed under a Attribution-NonCommercial-NoDerivatives 4.0 International