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Encyclopedia > Dollar voting

In economics, dollar voting is an analogy used to explain how the purchasing choices of consumers affect which products will continue to be produced and supplied to the market. Every dollar paid for a particular product may be considered a "dollar vote" for that product, such that the products with the largest number of dollar votes generate the most profit and will therefore continue to be produced. Economics (from the Greek οίκος [oikos], house, and νέμω [nemo], rules, hence household management) is the social science that studies the production, distribution, trade and consumption of goods and services in the context of the competing alternative allocations of goods and courses of action. ... An analogy is a comparison between two different things, in order to highlight some form of similarity. ... In economics, consumers are individuals or households that consume goods and services generated within the economy. ... A market is a mechanism which allows people to trade, normally governed by the theory of supply and demand, so allocating resources through a price mechanism and bid and ask matching so that those willing to pay a price for something meet those willing to sell for it. ... Profit is defined as the residual value gained from business operations. ...


The reference to "dollar" is just an example; the principle holds for any currency. Dollar - Wikipedia, the free encyclopedia /**/ @import /skins-1. ...


It's similar in theory to Foot voting In demographics, foot voting describes the tendency of people to Vote with their feet, to migrate when they percieve situations to be more beneficial elsewhere. ...


  Results from FactBites:
 
Britain.tv Wikipedia - Voting (833 words)
A vote, or a ballot, is an individual's act of voting, by which he or she express support or preference for a certain motion (e.g.
Though voting is usually recognized as one of the main characteristics of democracy, a country's having an election featuring the populace casting votes does not necessarily mean the country is democratic.
Some people think that whenever votes are recorded in a medium which is invisible to humans, electors lose any possibility to verify how their votes are collected and tallied up to produce the final result, thus they need to have an absolute faith in the accuracy, honesty and security of the whole electoral apparatus.
  More results at FactBites »


 
 

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