In an exchange economy, where goods or services are well-made and exchanged for one another’s needs in the market, rather than through barter, ‘price’ holds significant importance. The key to business success lies in understanding the prime cost and establishing a ‘price’ based on that cost. If sales surge when a product that typically does not sell well is offered at a very low price, there must be a reason for the low price, as well as an explanation for why it does not sell at a higher price. The price results from the interaction of producers, consumers, and all other market variables. To identify the causes of problems in your business, you must first examine the price adequacy of the product or service you are selling. Price is not merely a number. - Joseph’s “just my thoughts”
A balloon will pop when placed atop a single pointed needle. However, if you drive the needle with multiple thumbtacks arranged like a rug, the balloon won’t burst. This illustrates that the impact of sharpness can depend on context. Even if we face inner turmoil, the way we position our challenges and the situations we create can transform those difficulties into connections rather than sources of pain. The key lies in how we manage the distribution of sharpness rather than the sharpness itself. - Joseph’s “just my thoughts”