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Pricing in Venezuela - the fair price vs the capitalist price!

Tuesday, November 09, 2010
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On the continuum of the mixed economy, the government continues to move the Venezuelan economy towards the planned side of things. And they are not averse to letting the population know that it is for the better either!

The picture shows the price for a certain type of oil in Mercado Bicentenario, the new name for a chain of private shops that have been nationalised by the government.


There is the “fair” price of 4.73 Bfs and then the capitalist price of 7 Bfs along with the saving of 32% that Venezuelan citizens can thank their government for!

This was originally posted in Harvard Professor Greg Mankiw’s blog - found here.image


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AS & A2 Economics Revision Workshops

AS & A2 Economics - Intensive Exam Coaching & Revision Workshops: Book Now!

Stratford | Fulham | Bristol | Birmingham | Gateshead | Leeds | Manchester

Dates and Locations

AS & A2 Economics - Macroeconomics: National & International Economy (Unit 2),  Global/International Economy (Unit 4)

  • Tuesday 25 March 2014 - London (Stratford City)
  • Wednesday 26 March 2014 - London (Fulham Broadway)
  • Thursday 27 March 2014 - Bristol (Cribbs Causeway)
  • Friday 28 March 2014 - Birmingham (Star City)
  • Tuesday 1 April 2014 - Gateshead (Metro Centre)
  • Wednesday 2 April 2014 - Leeds (The Light)
  • Thursday 3 April 2014 - Manchester (Salford Quays)

Post-Easter (AS Economics Units 1&2 Combined;  Global/International Economy (Unit 4))

  • Monday 28 April 2014 - London (Stratford City)
  • Tuesday 29 April 2014 - London (Fulham Broadway)
  • Wednesday 30 April 2014 - Bristol (Cribbs Causeway)
  • Thursday 1 May 2014 - Birmingham (Star City)
  • Friday 2 May 2014 - Manchester (Salford Quays)

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