Describe the Three Basic Rules That Apply to the REA

question 18

Essay

Describe the three basic rules that apply to the REA model pattern.

---

Definitions:

Social Class

A division of a society based on social and economic status, often categorized by factors such as wealth, occupation, and education.

Capital

In economic terms, refers to wealth in the form of money or other assets owned by a person or organization or available for purposes such as starting a company or investing.

Commodities

Goods or services that are traded, often produced to satisfy wants or needs.

Class-in-Itself

A term referring to a social class that shares common economic interests, but may not be united or aware of their shared circumstances or potential for collective action.