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Economy

November 1, 2014

An economy is comprised of an accumulation of economic acts.

An economic act is the completed voluntary exchange between two parties  of two items be they good(s) and/or service(s).

Thus as an economy is comprised of an accumulation of economic acts and which acts are included is what defines the economy. If the economic acts are dependent on the use of a single currency then the currency usage sets the limits to which acts are included in the economy.

 

 

 

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