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starts long before the start of school, and one that should be an integral part of one’s entire life. _pG- qK
Schooling, on the other hand, is a specific, formalized process, whose general pattern varies little from 4G 0m\[Du
one setting to the next. Throughout a country, children arrive at school at approximately the same cn3
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time, take assigned seats, are taught by an adult, use similar textbooks, do homework, take exams, rJT a
and so on. The slices of reality that are to be learned, whether they are the alphabet or an 6]N;r5n
understanding of the working of government, have usually been limited by the boundaries of the Fb>?1i`RN
subject being taught. For example, high school students know that there not likely to find out in their GPudaF{
classes the truth about political problems in their communities or what the newest filmmakers are 1#2
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experimenting with. There are definite conditions surrounding the formalized process of schooling. E_wCN&`[
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Price 5H9z4-i x?
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Prices determine how resources are to be used. They are also the means by which products and -f^tE, -
services that are in limited supply are rationed among buyers. The price system of the United States is LL |r
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a complex network composed of the prices of all the products bought and sold in the economy as well iHf $
as those of a myriad of services, including labor, professional, transportation, and public-utility services. 8q!]y 6
The interrelationships of all these prices make up the “system” of prices. The price of any particular Lg.gfny[(t
product or service is linked to a broad, complicated system of prices in which everything seems to Y\P8 v
depend more or less upon everything else. 1n8/r}q'H
If one were to ask a group of randomly selected individuals to define “price”, many would reply that B d fwa
price is an amount of money paid by the buyer to the seller of a product or service or, in other words An0|[ uWH
that price is the money values of a product or service as agreed upon in a market transaction. This +@f26O7$*
definition is, of course, valid as far as it goes. For a complete understanding of a price in any xLajso1g69
particular transaction, much more than the amount of money involved must be known. Both the buyer *:7rdzn
and the seller should be familiar with not only the money amount, but with the amount and quality of pah'>dAL
the product or service to be exchanged, the time and place at which the exchange will take place and J*A,o~U|
payment will be made, the form of money to be used, the credit terms and discounts that apply to the a dcE'fA<_
transaction, guarantees on the product or service, delivery terms, return privileges, and other factors. ]s'as9s9
In other words, both buyer and seller should be fully aware of all the factors that comprise the total Nh|uO?&C 6
“package” being exchanged for the asked-for amount of money in order that they may evaluate a
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given price. K5h
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Electricity
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