Allocation of Resources refers to the central subject of economics involving how scarce factors of production are distributed among producers and how scarce goods are distributed among consumers.
A theory in economics that suggests bad money drives out good money from circulation. When two forms of commodity money are in circulation which are accepted by law as having similar face value, the more valuable one will be hoarded and the less valuable one will be spent.
Value in exchange refers to the amount of other goods and services for which a unit of a specific good can be exchanged in a market. This is often represented by the money price of the good.
