In order to understand economics, it is helpful to think on a small scale. I’m hoping to build simple modelfor all to understand. I will build upon this model and I encourage feedback, why, and what-if questions. I make no claim to having economic authority so this is for me as much as anything else. Let’s begin
A flat market
John raises chickens. He is the only man in the entire nation. What is the value of his chickens? Zero. There is no one to trade his chickens to for something in return.