Price system
From Freepedia
A price system guides producers and consumers to balance forces of supply and demand by reaching compromises on production levels.
The price system that exists today is one of the concerns of the technocratic movement.
History
Fundamentally, price systems have been around as long there has been trade or money (c. 75,000 B.P.). From its beginnings as a barter system, the price system has evolved into the system of global capitalism that is present in the early 21st century. Even the Soviet Union and other socialist nations had price systems, as they employed a monetary system.
