Prices, prices everywhere-indeed, prices are the most widespread aspect of the market place. And the market place is the preeminent theater of exchange transactions in our lives-the stage upon which we offer each other the services of our labor power, savings, or other wealth, in order to earn the income with which to buy the things we want.
Market places are found in all modern economic systems-capitalist, socialist, or otherwise-in which a medium of exchange (money) is used as the means of payment for goods and services put on sale. But, although different economic systems share more or less the existence of market places, the specific way in which prices are established in the respective markets varies significantly. One of the ways in which price-formation processes differ involves the distinction between free markets and controlled markets. Supply and demand determine prices as well as the competition. Without these three factors pricing would seem nonexistent (Market Pricing, n.d.).
ProductionWal-Mart's packaging scorecard has been the talk of the consumer goods industry since it started forcing changes in their supplier's packaging processes. It's almost time to start thinking about an updateÃ¢ÂÂ¦.economic crisis and all. New metrics in the next version will be announced April 13, 2010 at a Wal-Mart Sustainable Packaging Expo in Bentonville, AR. It is expected to allow vendors to average and adjust packaging design and production across wider ranges. Tires, for example, a major category for the retailer, don't arrive in packages, carrying only labels, which would be difficult to cut back significantly. Until then Wal-Mart will make no changes in the score card questions.
Wal-Mart stores and Sam's Club have implemented the same sustainable packaging programs, but suppliers like Zettlemoyer-Lazar said major the roll-outs of sustainable packaging efforts can be tested at Sam's club, a smaller test environment that...