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  2. Bride price - Wikipedia

    en.wikipedia.org/wiki/Bride_price

    An evolutionary psychology explanation for dowry and bride price is that bride price is common in polygynous societies which have a relative scarcity of available women. In monogamous societies where women have little personal wealth, dowry is instead common since there is a relative scarcity of wealthy men who can choose from many potential ...

  3. Scarcity - Wikipedia

    en.wikipedia.org/wiki/Scarcity

    relative abundance is the condition where the available quantities of useful goods with alternative uses are greater than the multiple, different human requirements. Economic theory views absolute and relative scarcity as distinct concepts and "...quick in emphasizing that it is relative scarcity that defines economics."

  4. The Ultimate Resource - Wikipedia

    en.wikipedia.org/wiki/The_Ultimate_Resource

    The work opens with an explanation of scarcity, noting its relation to price; high prices denote relative scarcity and low prices indicate abundance.Simon usually measures prices in wage-adjusted terms, since this is a measure of how much labor is required to purchase a fixed amount of a particular resource.

  5. Microeconomics - Wikipedia

    en.wikipedia.org/wiki/Microeconomics

    Microeconomics analyzes the market mechanisms that enable buyers and sellers to establish relative prices among goods and services. Shown is a marketplace in Delhi. Shown is a marketplace in Delhi. Microeconomics is a branch of economics that studies the behavior of individuals and firms in making decisions regarding the allocation of scarce ...

  6. Externality - Wikipedia

    en.wikipedia.org/wiki/Externality

    Their desirability is or derived utility is intrinsically tied to their relative scarcity or exclusivity within a particular social context. [45] The economic concept of Positional externalities originates from Duesenberry's Relative Income Hypothesis. This hypothesis challenges the conventional microeconomic model, as outlined by the Common ...

  7. Scarcity value - Wikipedia

    en.wikipedia.org/wiki/Scarcity_value

    Scarcity value is an economic factor describing the increase in an item's relative price by a low supply.Whereas the prices of newly manufactured products depends mostly on the cost of production (the cost of inputs used to produce them, which in turn reflects the scarcity of the inputs), the prices of many goods—such as antiques, rare stamps, and those raw materials in high demand ...

  8. Heckscher–Ohlin model - Wikipedia

    en.wikipedia.org/wiki/Heckscher–Ohlin_model

    Initially, when the countries are not trading: The price of the capital-intensive good in the capital-abundant country will be bid down relative to the price of the good in the other country, the price of the labor-intensive good in the labor-abundant country will be bid down relative to the price of the good in the other country.

  9. Economic calculation problem - Wikipedia

    en.wikipedia.org/wiki/Economic_calculation_problem

    Robin Cox has argued that the economic calculation argument can only be successfully rebutted on the assumption that a moneyless socialist economy was to a large extent spontaneously ordered via a self-regulating system of stock control which would enable decision-makers to allocate production goods on the basis of their relative scarcity using ...