Prices are signals in the economy.
If you and others buy a lot of apples despite high prices, you're signaling a shortage.
This tells producers to grow more apples.
The same goes for anything else: if everyone buys expensive concert tickets, more concerts will be organized.
High gas prices? Expect more oil drilling.
Prices communicate demand and supply info across the economy, guiding resources and production where they're needed most. 📈✨ #Economics101 #SupplyAndDemand
