731 B
731 B
Economic System Interaction
Definition
The relationships, exchanges, and communications between different elements within economic arrangements, including the ways in which various components, actors, and mechanisms influence and respond to each other in the operation of economic systems.
Source Chapter
Book IV, Chapter 0
Context
Smith's framework for understanding political economy implies the importance of interactions within economic arrangements and the ways in which different elements influence each other's operation and effectiveness.
Economic Domain
General Theory