South Tv – Page 664 – Cannasumer

South Tv

South Tv

War and the Economic Concept of Substitution

Substitution is an important concept in economics, whether we consider the consumer or the producer, and whether the latter produces bubble gum or, like a state, national defense. If the price of a good (or service) increases relatively to the price of other goods, a rational consumer will partly substitute another one that is anyhow […]

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