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Exchange

QuoteSourcePageSubject
All human action, so far as it is rational, appears as the exchange of one condition for another... This is the essence of economic activity--the carrying out of acts of exchange.Socialismp. 97Exchange
Each party attaches a higher value to the good he receives than to that he gives away. The exchange ratio, the price, is not the product of an equality of valuation, but, on the contrary, the product of a discrepancy in valuation.Human Actionpp. 328-29; p. 331Exchange
He [a consumer] buys because he believes that to acquire the merchandise in question will satisfy him better than keeping the money or spending it for something else.The Ultimate Foundation of Economic Sciencep. 76Exchange
In a game there are winners and losers. But a business deal is always advantageous for both parties. If both the buyer and the seller were not to consider the transaction as the most advantageous action they could choose under the prevailing conditions, they would not enter into the deal.The Ultimate Foundation of Economic Sciencep. 90Exchange
The deal is always advantageous both for the buyer and the seller. Even a man who sells at a loss is still better off than he would be if he could not sell at all, or only at a still lower price.Human Actionpp. 661-62; pp. 665-66Exchange
The valuation of a monetary unit depends not on the wealth of a country, but rather on the relationship between the quantity of, and demand for, money. Thus, even the richest country can have a bad currency and the poorest a good one.On the Manipulation of Money and Creditp. 21Exchange
There are in the market economy no conflicts between the interests of the buyers and sellers.Human Actionp. 661; p. 665Exchange
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