Gauge Theory of Economics: Difference between revisions

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where we label the first term as Reference Basket and the second one as Barter.
where we label the first term as Reference Basket and the second one as Barter.


Suppose that we live in a world where there are only 3 different types of items for sale: apples, berries and cherries (A, B and C respectively.) Say today we pick up our basket and go to the market. At the market, the price of each item is posted up as a number on the wall where we can see. So, we represent the prices by a $${1}\times{3}$$ row vector $$p$$. On the other hand, we buy different quantities of each item and so a $${3}\times{1}$$ column vector $$q$$ denotes the list of 3 quantities for items A, B and C.
Suppose that we live in a world where there are only 3 different types of products for sale: apples, berries and cherries (A, B and C respectively.) Say today we pick up our basket and go to the market. At the market, the price of each product is posted up as a number on the wall where we can see. So, we represent the prices by a $${1}\times{3}$$ row vector $$p$$. On the other hand, we buy different quantities of each product and so a $${3}\times{1}$$ column vector $$q$$ denotes the list of 3 quantities for products A, B and C.


== Supplemental materials ==
== Supplemental materials ==
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