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starts long before the start of school, and one that should be an integral part of one’s entire life. 8LuM eGs
Schooling, on the other hand, is a specific, formalized process, whose general pattern varies little from d8D0 28d
one setting to the next. Throughout a country, children arrive at school at approximately the same
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time, take assigned seats, are taught by an adult, use similar textbooks, do homework, take exams, 0C!f/EZK
and so on. The slices of reality that are to be learned, whether they are the alphabet or an }@6Tcn1
understanding of the working of government, have usually been limited by the boundaries of the 4^uQ B (}Z
subject being taught. For example, high school students know that there not likely to find out in their {BV0Y .O
classes the truth about political problems in their communities or what the newest filmmakers are (|O9L s7N
experimenting with. There are definite conditions surrounding the formalized process of schooling. u%m,yPU ~B
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Price p"@ [2hK
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Prices determine how resources are to be used. They are also the means by which products and Ww=^P{q\
services that are in limited supply are rationed among buyers. The price system of the United States is _v6 x3 Z
a complex network composed of the prices of all the products bought and sold in the economy as well JjMa
as those of a myriad of services, including labor, professional, transportation, and public-utility services. 7l(GBr
The interrelationships of all these prices make up the “system” of prices. The price of any particular ^sVr#T
product or service is linked to a broad, complicated system of prices in which everything seems to
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depend more or less upon everything else. ldFR%v> 9
If one were to ask a group of randomly selected individuals to define “price”, many would reply that 0u) m9eg
price is an amount of money paid by the buyer to the seller of a product or service or, in other words 7Is:hx|:
that price is the money values of a product or service as agreed upon in a market transaction. This WAt= T3
definition is, of course, valid as far as it goes. For a complete understanding of a price in any !S~0T!afF
particular transaction, much more than the amount of money involved must be known. Both the buyer c_4K
and the seller should be familiar with not only the money amount, but with the amount and quality of &+5ij;AD
the product or service to be exchanged, the time and place at which the exchange will take place and C4aAPkcp2$
payment will be made, the form of money to be used, the credit terms and discounts that apply to the -e4TqzRr
transaction, guarantees on the product or service, delivery terms, return privileges, and other factors. 9 Iu"DOxX%
In other words, both buyer and seller should be fully aware of all the factors that comprise the total Cs4ks`Z18
“package” being exchanged for the asked-for amount of money in order that they may evaluate a 5 ) q_Aro
given price. KCIya[$*
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