Task (26.02.2010): Is there a relationship between price, value and cost?

1. Definitions

Price:

• "The amount as of money or goods, asked for or given in exchange for something else."

http://www.thefreedictionary.com/Price

• "The price is your financial reward for providing the product or service"

http://www.businesslink.gov.uk/bdotg/action/detail?type=RESOURCES&itemId=1073790695

• Price depends on the market

• "Price is defined as what we pay for something. We write a check, use cash or a credit card, and our account is debited."

http://ezinearticles.com/?The-Price,-Cost-Value-Relationship&id=321066

Review of first class (26.02.2010)

1. Clarification of organizational questions & introduction of course members

2. World Trade and GDP

Between 1950 and 2010 the GDP has multiplied by 10, the World Trade even by 80.

What is the reason for this? (Brainstorming in class)

• Open markets

-> globalization, no borders

• Unit Loads have been created

-> Standardization of units that are being used to cut costs (f. ex. faster up- & unloading)
-> ex. europallets, containers, boxes