Answer to Question #95574 in Microeconomics for Manpreet

Question #95574
One of the critical conclusions of economics is that price is equal to value is equilibrium. But if we value equal price then we’re no better off buying something than if we’d just not bothered. What’s wrong with this sentiment?
1
Expert's answer
2019-10-01T12:29:53-0400

Even if all prices are equal, a person will still consume. First of all, essential goods, then new requests will be born. And thus, each demand will generate a new demand, regardless of price, but depending on needs. Also, a person is not able to provide himself with all the necessary benefits, and this is another reason for the appearance of consumer demand, which does not depend on price


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