A Note On Price And Priorities For Next Nigerian President By Tunde Leye
Price is a signal. It is a signal that contains the sum of the efficiencies and inefficiencies that go into delivering a product to the people in an economy, and the demand and supply of that product. If the price of the same thing is different in two countries and we assume that demand and supply are the same, what it means is that the country with the lower price has solved many of the efficiency problems in delivering that thing that the country with the higher price is yet to figure out.