Problems in American Democracy

by Thames Williamson

11. Define value. Distinguish between value and price.

12. Upon what two factors is value dependent?

13. How is price set or determined?

REQUIRED READINGS

1. Williamson, Readings in American Democracy, chapter viii.

Or all of the following:

2. Adams, Description of Industry, chapter viii.

3. Carver, Elementary Economics, chapters xix, xx, xxi, xxii, and xxiv.

4. Hayward, Money, What It Is and How to Use It, chapter viii.

5. Smith, Wealth of Nations, Book 1, chapters iii and iv.