"The price of every thing rises and falls from time to time and place to place; and with every such change the purchasing power of money changes so far as that thing goes"
- Alfred Marshall
About this Quote
This quote by Alfred Marshall is describing the concept of cost flexibility, which is the idea that the price of a great or service is affected by the demand for it. Marshall is saying that the price of a good or service can vary depending on the time and location, which this variation can affect the acquiring power of cash. For example, if the cost of a great or service increases, then the buying power of money reduces, as it takes more money to purchase the same excellent or service. On the other hand, if the rate of a good or service reductions, then the buying power of cash increases, as it takes less money to purchase the very same excellent or service. Marshall's quote is a pointer that the rate of items and services is continuously changing, which this can have a result on the buying power of money.
This quote is written / told by Alfred Marshall between July 26, 1842 and July 13, 1924. He/she was a famous Economist from England, the quote is categorized under the topic Finance. The author also have 17 other quotes.
"Given the choice, children who don't want for anything will not save... We have an obligation as parents to give our children what they need. What they want we can give them as a special gift, or they can save their money for it"