
Kazimierz Łaski
et al.
Published online:
22 August 2019
Published in print:
27 June 2019
Online ISBN:
9780191878169
Print ISBN:
9780198842118
Contents
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3.1 Cost- and Demand-determined Pricing Systems 3.1 Cost- and Demand-determined Pricing Systems
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3.2 Distribution of National Income 3.2 Distribution of National Income
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Chapter
3 Prices and the distribution of national income
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Pages
20–31
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Published:June 2019
Cite
Łaski, Kazimierz, and others, 'Prices and the distribution of national income', in Jerzy Osiatyński, and Jan Toporowski (eds), Lectures in Macroeconomics: A Capitalist Economy Without Unemployment (Oxford , 2019; online edn, Oxford Academic, 22 Aug. 2019), https://doi.org/10.1093/oso/9780198842118.003.0004, accessed 4 May 2025.
Abstract
This chapter examines the role of the price system in macroeconomics and in the distribution of income between wages and profits. Prices are not naturally determined by supply and demand simultaneously. Instead, prices of raw materials tend to be demand-determined, while manufactured goods are set by the firms manufacturing them. The difference between them reflects the different degrees of monopoly or competition in their respective markets, so that the prices of finished goods are more likely to be set by their producers using a mark-up over labor costs.
Translator:
Collection:
Oxford Scholarship Online
Lectures in Macroeconomics: A Capitalist Economy Without Unemployment. Kazimierz Łaski, Jerzy Osiatyński, Jan Toporowski and James West, Oxford University Press (2019). © Oxford University Press. DOI: 10.1093/oso/9780198842118.003.0004
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