Marketplace Economics

[Harvey A. Kader]

Hi Everyone.

In real estate which I am involved with, the "market value" is what a
property is worth in the minds of the buyer and seller. Supply and
demand applies. Real estate transactions take place in a bidding process
- buyers submit an offer, and the seller accepts the highest offer with
the least conditions attached to it.

Real estate is an open market. Transactions occur between buyer and
seller without undue pressure and influence.This is the definition of an
open market. The bidding process is akin to an auction.

Auctions in an analogous fashion are also an open market. Buyers submit
bids, and the seller accepts the highest one above his reserve(if any).
Again, transactions occur between buyer and seller without undue
pressure and influence.

The internet has created auctions that are not confined to just one
town, province, state, or country, but now span the entire world. Buyers
and sellers can come from everywhere and anywhere. Internet auctions are
the ULTIMATE OPEN MARKET.

Economics is a fascinating field of study. I recommend economic courses
to everyone. You will see things in a completely different light than
before. They will improve your business skills, and make your businesses
better by giving you more tools and economic skills. I also recommend
real estate courses. Real estate covers so many different facets of
business that, even if you never trade in real estate, the knowledge
gained is very valuable.

I hope this information helps.

Regards.

Harvey A. Kader

Sponsored by the City of Tempe 

Listserver Submissions:  heath at listserv.tempe.gov
Listserver Subscription: listserv at listserv.tempe.gov - "subscribe heath 'name' 'call'"
Listserver Unsubscribe: listserv at listserv.tempe.gov - -"signoff heath"