Global Agricultural Land Use v. Agricultural Production [OC]Submitted by rosetechnology t3_xvgmuw in dataisbeautiful
Sininenn t1_irfry94 wrote
Reply to comment by CustomerComplaintDep in Global Agricultural Land Use v. Agricultural Production [OC] by rosetechnology
Producers and consumers do NOT agree on a price.
Price is much, much more complex than a mere agreement, which implies negotiations, which there are absolutely none taking place during final customer purchase...
You can haggle the price when buying on a large scale, but try going into the supermarket and asking them to sell you food for less than the set price.
A price in and of itself brings zero value to customers...
Using monetary value to judge the production levels is misleading.
CustomerComplaintDep t1_irhektx wrote
Why would there need to be negotiation? Suppliers offer a price and consumers take it or leave it. Supply and demand causes the price to be set where both producers and consumers are satisfied. Of course the price does not, in itself, bring value. That's not at all what I'm saying. I'm saying that the value is implied by the price. No consumer would buy it unless they perceive that the value is greater than or equal to the price. So, the fact that they buy it tells us that the value is at least as high as the price.
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