In a market economy, ‘price’ is determined by supply and demand. Producers supply and consumers demand, and the compromise between them is price. However, the price determined by supply and demand is not always beneficial to both producers and consumers. The price formed in the market is distorted by various factors, and the imbalance that occurs at these times results in a loss for some and a benefit for others. Wealth transfer occurs when there is an imbalance in the price of a good or service. Price imbalance necessitates an understanding of the essence of the market that forms between supply and demand, and it is a fundamental virtue for entrepreneurs to develop an ability to recognize bubbles and undervaluation of value. - Joseph’s “just my thoughts”
Imagination and creativity are different concepts. A dream of flying exemplifies imagination, whereas building an airplane to fly embodies creativity. The original driving force behind creativity is imagination, but creativity is trying to combine, connect, and try several elements in reality. If you try, you may feel frustrated, but the resilience to attempt again, even after failure, originates from your imagination. Together, these two concepts transform and evolve the world. - Joseph’s “just my thoughts”