3 ms·
> In our society, this common currency of expected utilons is called "money". It is the measure of how much society cares about something. Price is the measur
by randomdata 3y ago
> In our society, this common currency of expected utilons is called "money". It is the measure of how much society cares about something.
Price is the measure of how much someone cares about something; specifically with respect to how much they are willing to give up in order to get that something. While price is often recorded relative to units of currency, that does not make them equivalent.
Currency, or "money", is an IOU. It is used when one does not have present value available to make a trade, but offers future value in exchange for something of present value. In the future, one can redeem currency for something of value, ultimately satisfying the trade made.