markitect-main/examples/infospace-with-history/output/entities/price-in-money.md

Price in Money

Definition

The measurement of a commodity's value by the quantity of money it commands in exchange, representing the conventional market price denominated in currency rather than in labour terms.

Source Chapter

Book I, Chapter 5

Context

Smith presents this as the more common but less fundamental way of pricing commodities, explaining that money became the standard measure because it is more convenient and comprehensible than labour measures.

Economic Domain

Exchange

---