Abstract
Modern economies are often referred to as ‘exchange economies’. Instead of people producing directly for their own wants, they specialise in production in order to increase total output. Thus both factors of production and final products are exchanged. Exchanges take place because both buyers and sellers benefit from them (see Figure 1.3).
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© 1996 Jack Harvey
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Harvey, J. (1996). Characteristics of the Real Property Market. In: Urban Land Economics. Palgrave, London. https://doi.org/10.1007/978-1-349-24441-6_2
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DOI: https://doi.org/10.1007/978-1-349-24441-6_2
Publisher Name: Palgrave, London
Print ISBN: 978-0-333-65439-2
Online ISBN: 978-1-349-24441-6
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