Monday, 2 May 2011

The three fundamentally different parts of the economy

The three fundamentally different, basic economic items in the economy are:

a) Monetary items
b) Variable real value non–monetary items
c) Constant real value non–monetary items

The economy consequently consists of not just two parts – the monetary and non–monetary economy, but, three parts:

1. Monetary economy
2. Variable item economy
3. Constant item economy

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Nicolaas Smith

Copyright (c) 2005-2011 Nicolaas J Smith. All rights reserved. No reproduction without permission.

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