03 The Definition of “Price”
Prices determine how resources are to be used. They are also the means by which products and services that are in limited supply are rationed1 among buyers. The price system of the United States is a complex network composed of the prices of all the products bought and sold in the economy as well as those of a myriad2 of services, including labor3, professional, transportation, and public-utility services. The interrelationships of all these prices make up the “system” of prices. The price of any particular product or service is linked to a broad, complicated system of prices in which everything seems to depend more or less upon everything else.
If one were to ask a group of randomly4 selected individuals to define “price”, many would reply that price is an amount of money paid by the buyer to the seller of a product or service or, in other words that price is the money values of a product or service as agreed upon in a market transaction. This definition is, of course, valid5 as far as it goes. For a complete understanding of a price in any particular transaction, much more than the amount of money involved must be known. Both the buyer and the seller should be familiar with not only the money amount, but with the amount and quality of the product or service to be exchanged, the time and place at which the exchange will take place and payment will be made, the form of money to be used, the credit terms and discounts that apply to the transaction, guarantees on the product or service, delivery terms, return privileges, and other factors. In other words, both buyer and seller should be fully6 aware of all the factors that comprise the total “package” being exchanged for the asked-for amount of money in order that they may evaluate a given price.
1 rationed
限量供應，配給供應( ration的過去式和過去分詞 )
參考例句：
We were rationed to two eggs a day. 每天配給我們兩個雞蛋。
The army is well rationed. 部隊給養(yǎng)良好。
2 myriad
adj.無數(shù)的；n.無數(shù)，極大數(shù)量
參考例句：
They offered no solution for all our myriad problems.對于我們數(shù)不清的問題他們束手無策。
I had three weeks to make a myriad of arrangements.我花了三個星期做大量準備工作。
3 labor
n.勞動，努力，工作，勞工；分娩；vi.勞動，努力，苦干；vt.詳細分析；麻煩
參考例句：
We are never late in satisfying him for his labor.我們從不延誤付給他勞動報酬。
He was completely spent after two weeks of hard labor.艱苦勞動兩周后，他已經(jīng)疲憊不堪了。
4 randomly
adv.隨便地，未加計劃地
參考例句：
Within the hot gas chamber, molecules are moving randomly in all directions. 在灼熱的氣體燃燒室內(nèi)，分子在各個方向上作無規(guī)運動。 來自辭典例句
Transformed cells are loosely attached, rounded and randomly oriented. 轉(zhuǎn)化細胞則不大貼壁、圓縮并呈雜亂分布。 來自辭典例句
5 valid
adj.有確實根據(jù)的；有效的；正當?shù)?，合法?BR> 參考例句：
His claim to own the house is valid.他主張對此屋的所有權有效。
Do you have valid reasons for your absence?你的缺席有正當理由嗎？
6 fully
adv.完全地，全部地，徹底地；充分地
參考例句：
The doctor asked me to breathe in,then to breathe out fully.醫(yī)生讓我先吸氣，然后全部呼出。
They soon became fully integrated into the local community.他們很快就完全融入了當?shù)厝说娜ψ印?
Prices determine how resources are to be used. They are also the means by which products and services that are in limited supply are rationed1 among buyers. The price system of the United States is a complex network composed of the prices of all the products bought and sold in the economy as well as those of a myriad2 of services, including labor3, professional, transportation, and public-utility services. The interrelationships of all these prices make up the “system” of prices. The price of any particular product or service is linked to a broad, complicated system of prices in which everything seems to depend more or less upon everything else.
If one were to ask a group of randomly4 selected individuals to define “price”, many would reply that price is an amount of money paid by the buyer to the seller of a product or service or, in other words that price is the money values of a product or service as agreed upon in a market transaction. This definition is, of course, valid5 as far as it goes. For a complete understanding of a price in any particular transaction, much more than the amount of money involved must be known. Both the buyer and the seller should be familiar with not only the money amount, but with the amount and quality of the product or service to be exchanged, the time and place at which the exchange will take place and payment will be made, the form of money to be used, the credit terms and discounts that apply to the transaction, guarantees on the product or service, delivery terms, return privileges, and other factors. In other words, both buyer and seller should be fully6 aware of all the factors that comprise the total “package” being exchanged for the asked-for amount of money in order that they may evaluate a given price.
1 rationed
限量供應，配給供應( ration的過去式和過去分詞 )
參考例句：
We were rationed to two eggs a day. 每天配給我們兩個雞蛋。
The army is well rationed. 部隊給養(yǎng)良好。
2 myriad
adj.無數(shù)的；n.無數(shù)，極大數(shù)量
參考例句：
They offered no solution for all our myriad problems.對于我們數(shù)不清的問題他們束手無策。
I had three weeks to make a myriad of arrangements.我花了三個星期做大量準備工作。
3 labor
n.勞動，努力，工作，勞工；分娩；vi.勞動，努力，苦干；vt.詳細分析；麻煩
參考例句：
We are never late in satisfying him for his labor.我們從不延誤付給他勞動報酬。
He was completely spent after two weeks of hard labor.艱苦勞動兩周后，他已經(jīng)疲憊不堪了。
4 randomly
adv.隨便地，未加計劃地
參考例句：
Within the hot gas chamber, molecules are moving randomly in all directions. 在灼熱的氣體燃燒室內(nèi)，分子在各個方向上作無規(guī)運動。 來自辭典例句
Transformed cells are loosely attached, rounded and randomly oriented. 轉(zhuǎn)化細胞則不大貼壁、圓縮并呈雜亂分布。 來自辭典例句
5 valid
adj.有確實根據(jù)的；有效的；正當?shù)?，合法?BR> 參考例句：
His claim to own the house is valid.他主張對此屋的所有權有效。
Do you have valid reasons for your absence?你的缺席有正當理由嗎？
6 fully
adv.完全地，全部地，徹底地；充分地
參考例句：
The doctor asked me to breathe in,then to breathe out fully.醫(yī)生讓我先吸氣，然后全部呼出。
They soon became fully integrated into the local community.他們很快就完全融入了當?shù)厝说娜ψ印?