Why is standard important in economy?
Why is standard important in economy? A standard of value allows all merchants and economic entities to set uniform prices for goods and services. This standard is necessary in order to maintain a stable economy.
What is the standard economy class?
Economy class, also called third class, coach class, steerage, or to distinguish it from the slightly more expensive premium economy class, standard economy class or budget economy class, is the lowest travel class of seating in air travel, rail travel, and sometimes ferry or maritime travel.