- Week 3 Reflection

- Week 3 Reflection - Preservation of Market Share The...

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Preservation of Market Share The article “The Economic Organization of a P.O.W. Camp” by R. A. Radford was very accurate in the relation to natural economic tendencies seen within the market place. The article outlines several different groupings where an economic system gave rise, one of which was during the transfer of the prisoners to the main camp, and gives insight into a market economy. During this transfer Radford describes a crude economic system where prices, the currency of which is cigarettes, fluctuate from one person to another and there is no main market established to set pricing. Throughout the article you can see the development of a market based economy with a central pricing influence in this case the market that was established for trade at the main camp. The market that was established set fixed prices for items which added a sense of stability to the market economy being established within the camp by the establishment of a centralized pricing structure. Radford states, “Only sales in cigarettes were accepted—there was no barter—and there was no haggling. For food at least there were standard prices: clothing is less homogeneous and the price was
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This note was uploaded on 11/01/2011 for the course MBA 575 taught by Professor Dr.tvorik during the Spring '11 term at St. Leo.

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- Week 3 Reflection - Preservation of Market Share The...

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