Definition, Meaning & Synonyms
catallactic
Adjective
/ˌkæt.əˈlæk.tɪk/
Definition
Relating to the exchange of goods and services, particularly in terms of the economic behavior of individuals interacting in a market.
Examples
- The catallactic perspective emphasizes the importance of voluntary exchanges in determining market prices.
- Understanding catallactic behavior can help economists predict market trends.
Meaning
The term catallactic pertains to the processes and dynamics involved in economic exchange and the role that individuals play in these transactions.
Synonyms
- economic
- mercantile
- transactional
- commercial
