Question for math nerds
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Or maybe economy nerds , does the mlb the show market behave like real economics or is it different because of the minimum/ maximum a card can be sold .
What if there was no min/max sale price ? -
@jaychvz_XBL
Well there is always a minimum and maximum of the amount of any given thing that can be bought or sold because of supply. You can only buy or sell what you have or what is available on the market. In that way, the market plays like textbook supply and demand, which is accurate to real-life economics. There is also, of course, an estimated value for a given item. There is technically no regulated or forced starting price, but, of course, a starting price is measured by its overall value. To inflate the market and make sure a decent sum of stubs are spent, these regulations are present in the marketplace. Other than that, I’d say it’s economically accurate. I’m not an economics major by the way. -
It's a false market because it lacks an essential component of a true free market economy. SDS controls the market through access as well as regulation of the supply and imposition of minimum and maximum values.
But, those two concepts are not the prime reasons. That prime reason is the lack of actual work that must be employed to earn revenue or produce the product. Real products derive their value because of the scarcity of resources needed to produce them. This can be in the form of natural resources or simply a finite amount of human labor required to create each unit. On the flip side, the purchase price is still set by a market where competition can enter the market. This market has no competition.
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It function the exact same as a regular economy. There is supply and demand and scarcity. In fact, similar (much more broken) video game economies have been studied because they simulate extreme economic conditions
