Difference between revisions of "Economics"
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The LEIGH&CO Economy is built around diamonds as the reference standard. The official currency of the LEIGH&CO economy are marbles. The injection mechanism for currency (how capital is created) is the diamond exchange. At any [[Central Bank]] location, LEIGH&CO will buy any quantity of marbles for at least the basic diamond price (BDP). The BDP is currently 160. Further, LEIGH&CO pledges not to change the BDR more than 4 times per year. As of Y2S3, the BDR has never changed. | The LEIGH&CO Economy is built around diamonds as the reference standard. The official currency of the LEIGH&CO economy are marbles. The injection mechanism for currency (how capital is created) is the diamond exchange. At any [[Central Bank]] location, LEIGH&CO will buy any quantity of marbles for at least the basic diamond price (BDP). The BDP is currently 160. Further, LEIGH&CO pledges not to change the BDR more than 4 times per year. As of Y2S3, the BDR has never changed. | ||
Diamonds are a fixed non-renewable resource and cannot be created through traditional [[Technica]]. Consequently it is possible to fix a time/money standard. LEIGH&CO Statisticians have estimated that a experienced Survivor using efficient techniques and utilizing Fortune III can yield, on average, about 64 diamonds per hour, or M10,240 per hour. This can serve as a basis for establishing prices for goods. | Diamonds are a fixed non-renewable resource and cannot be created through traditional [[Technica]]. Consequently it is possible to fix a time/money standard. LEIGH&CO Statisticians have estimated that a experienced [[Survivor]] using efficient techniques and utilizing Fortune III can yield, on average, about 64 diamonds per hour, or M10,240 per hour. This can serve as a basis for establishing prices for goods. | ||
For example, if a given production technique produces 500 blocks of some type per hour, and and given that the diamond standard is about M10,240 per hour, then 10240 / 500 = 20.48. So a fair price for the block being produced is probably around M21. | For example, if a given production technique produces 500 blocks of some type per hour, and and given that the diamond standard is about M10,240 per hour, then 10240 / 500 = 20.48. So a fair price for the block being produced is probably around M21. | ||
Revision as of 19:30, 14 December 2021
LEIGH&CO Economy
The LEIGH&CO Economy is built around diamonds as the reference standard. The official currency of the LEIGH&CO economy are marbles. The injection mechanism for currency (how capital is created) is the diamond exchange. At any Central Bank location, LEIGH&CO will buy any quantity of marbles for at least the basic diamond price (BDP). The BDP is currently 160. Further, LEIGH&CO pledges not to change the BDR more than 4 times per year. As of Y2S3, the BDR has never changed.
Diamonds are a fixed non-renewable resource and cannot be created through traditional Technica. Consequently it is possible to fix a time/money standard. LEIGH&CO Statisticians have estimated that a experienced Survivor using efficient techniques and utilizing Fortune III can yield, on average, about 64 diamonds per hour, or M10,240 per hour. This can serve as a basis for establishing prices for goods.
For example, if a given production technique produces 500 blocks of some type per hour, and and given that the diamond standard is about M10,240 per hour, then 10240 / 500 = 20.48. So a fair price for the block being produced is probably around M21.
External market factors can distort a price, leading to prices being higher or lower than would otherwise be expected.
In some cases, Survivors will use Technica machines to artificially generate materials. This can depress the price of the a commodity dramatically, since these machines are typically capable of producing materials far faster than individual Survivors can using traditional means. Some examples of blocks which have been farmed using Technica include Bamboo, Cactus, and Iron.
It could be that a Survivor has a surplus of some material for some reason, and is selling it particularly cheaply to get rid of it. Since Survivors are free to set their own prices, Survivors also occasionally "mis-price" items, selling them for "too much" or "too little" relative to this model. In other cases items that should be very valuable are sometimes sold cheaply because there is little market demand.