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starts long before the start of school, and one that should be an integral part of one’s entire life. wB 8548C}-
Schooling, on the other hand, is a specific, formalized process, whose general pattern varies little from (q"S0{
one setting to the next. Throughout a country, children arrive at school at approximately the same !@gjIYq_Y
time, take assigned seats, are taught by an adult, use similar textbooks, do homework, take exams, %. [AZ>
and so on. The slices of reality that are to be learned, whether they are the alphabet or an 5UL5C:3R9
understanding of the working of government, have usually been limited by the boundaries of the =]Y'xzJuu
subject being taught. For example, high school students know that there not likely to find out in their l7ES*==&@0
classes the truth about political problems in their communities or what the newest filmmakers are
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experimenting with. There are definite conditions surrounding the formalized process of schooling. bN*zx)f
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of Sr10ot&ox
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Price TAM`i3{ D
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Prices determine how resources are to be used. They are also the means by which products and q[Y* .%~
services that are in limited supply are rationed among buyers. The price system of the United States is bir tA{ q
a complex network composed of the prices of all the products bought and sold in the economy as well >*w(YB]/$V
as those of a myriad of services, including labor, professional, transportation, and public-utility services. {7Ez7'SVV
The interrelationships of all these prices make up the “system” of prices. The price of any particular [aC2ktI
product or service is linked to a broad, complicated system of prices in which everything seems to jK=-L#hz
depend more or less upon everything else. l$p"%5 ]_
If one were to ask a group of randomly selected individuals to define “price”, many would reply that ~f2-%~
price is an amount of money paid by the buyer to the seller of a product or service or, in other words 1K$8F ~%Z
that price is the money values of a product or service as agreed upon in a market transaction. This Se5jxV
definition is, of course, valid as far as it goes. For a complete understanding of a price in any S1$&
particular transaction, much more than the amount of money involved must be known. Both the buyer @h\u}Ee
and the seller should be familiar with not only the money amount, but with the amount and quality of CI?M2\<g
the product or service to be exchanged, the time and place at which the exchange will take place and u-Ip *1/wp
payment will be made, the form of money to be used, the credit terms and discounts that apply to the nIP* yb}5
transaction, guarantees on the product or service, delivery terms, return privileges, and other factors. tO QY./I
In other words, both buyer and seller should be fully aware of all the factors that comprise the total ab5z&7Re6
“package” being exchanged for the asked-for amount of money in order that they may evaluate a [.
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given price. h
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