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Please explain how "the market" does set a price. Please do not do that in a symbolic, abstract way, please describe based on facts who writes a number into a

Please explain how "the market" does set a price. Please do not do that in a symbolic, abstract way, please describe based on facts who writes a number into a computer that will be the price. How does this happen? Do you believe that there is a mythical "market" entity that "creates prices"? Then please explain how it works. Thanks!

drekipus 4y ago
> please describe based on facts who writes a number into a computer that will be the price. The person selling the goods, with a limited but sole-focused understanding of the competitors, stock coming in, stock going out, and forecasting does the best job he can to set the price that maximizes his individual profits