MLM = morons losing money

[Catwoman]

Originally Posted by Beestie

What is the price (economic value) of a commodity for which there is an infinite supply?

Read first rule of economics: Something is worth whatever someone is willing to pay for it. People are stupid. People buy identities, not products. The tangible object is worthless (with the exception of houses etc.)

Originally Posted by glatt

I determine the value. I won't work for a wage unless I approve of it. I won't buy a product unless I like the price.

That's all very well but your choice is limited to what you are offered. So, who determines the value?

[glatt]

Originally Posted by Catwoman

That's all very well but your choice is limited to what you are offered. So, who determines the value?

I'll let you answer yourself.

Originally Posted by Catwoman

Read first rule of economics: Something is worth whatever someone is willing to pay for it.

Which means I, as a consumer, decide what something is worth.

[Catwoman]

Originally Posted by glatt

I'll let you answer yourself...Which means I, as a consumer, decide what something is worth.

No. I'll say it again. You are limited to what you are offered. Yes, you decide the price of beans. But you do not choose beans. Why does a company put baked beans on the market instead of, say, tinned cattlefish? Or ground peanuts? Who decides? Isn't what we consume the result of a board-level brainstorm? Market research is not research. It is limited to simple choices: do you prefer almonds or peanuts. There's no mention of walnuts. Do you see? We don't decide the value because we are limited. We can only choose from what is offered. Thus, if value is determined by afore-mentioned board meeting (profiteers), there is no consequential difference between a well-established plc and a badly run mlm.