Value and satisfaction are defined by the consumer
Here is the first entry in the current year Economics Music Video Contest from Fayetteville State University.
Big books shows value is determined by the consumer.
Do you want to make a fortune? Figure out what consumers want and provide it.
Check this out:
A couple of fun lines:
Satisfaction is the buyer’s key
That’s what it’s all about, the consumer’s preference.
If you crack that code, you’ll be sitting in a Lexus.
Figure out that code and you will be amazingly rich.
Last line I’ll quote:
The value of goods is not intrinsic.
Diamond studded fronts in my life is not realistic.