What does it mean to get a “good deal” on a product? What’s the natural price of a good? When supply and demand are in equilibrium, goods will be sold for their natural price. Adam Smith explains that the natural price is the cost of bringing a good to market. He discusses this concept in his classic work The Wealth of Nations. Read more to understand natural price and the three primary costs that determine it.
What Is Natural Price? Adam Smith Explains the 3 Factors
