The Closed Off Small Town
To make things a little more obvious, we are going to say that all trading happens only once a week. This includes ordering services or renewing employment contracts. After every change, we are going to understand how you and by extension, most others will change your/others behavior. Would you buy more, sell more, save more, work more, change what you value, or forgo today for expected benefits tomorrow? The study of economics is how will you and others change your behavior with changing circumstances. |
Matching America, let’s state that 60 people are working for the purpose of trade. 40 people are either retired, young and being educated or taking care of a family. All the people do a certain amount of work just bettering their own lives such as cleaning and maintaining their house, property and themselves. |
The Economy
The starting point for every scenario is a $100x economy per week. Everyone trading brings their products or services to the market to trade. The following scenarios will always reset to this standard to eliminate so many factors changing at once. We know that every change in any one factor can have small to large factors in others; however, resetting back to this base, brings things into focus. |