money-part-visible-sector-economy-people-money-money-physical-factor-production

Money is not a part of the visible sector of the economy; people do not consume money. Money is not a physical factor of production, but rather a yardstick for measuring economic input, economic outtake and the relative values of the real goods and services of the economic world. Money provides a method of measuring obligations, rights, powers and privileges. It provides a means whereby certain individuals can accumulate claims against others, or against the economy as a whole, or against many economies.

0/5 (0)

Louis O. Kelso's Popular Quotes

0 Comments

Login to join the discussion