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28 March, 02:46

How is the game of economics similar to the games you are used to playing? How is it different?

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  1. 28 March, 03:16
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    In the game of economics, as in usual games, the following elements can be found:

    Playfield: markets, governed by a set of rules Players: these are the economic agents: domestic households, firms and goverments and foreign households, firms and goverments.

    Economic agents come to the markets to purchase goods and services to satisfy their needs (they demand goods at a certain price, which they need to afford), while they offer their factors of production in the markets for which they obtain a retribution. Negotiations and strategies are developed, as in any game, in order to obtain the products at the cheapest price and to be rewarded as high as possible for the factors of production. Those strategies have to be designed in such as manner that they do not violate the rules that govern each of the markets.
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