Economy Guide in Runescape

The economy plays a significant part in our life, we cant live without it in modern society. The economy can reflect the power of a country directly. The economy in RuneScape bears many similarities to economies in the real world. In RuneScape, items can be produced, exchanged and used by players. Players can exchange these items through trading or via the Grand Exchange (the market). Grand Exchange prices vary due to many factors, the most basic one being supply and demand. This can have a big influence on the behaviour of players.

Real world economies behave differently from RuneScape's in some respects, particularly because of the limited time many have to play the game, which renders the availability of financial organisations such as player owned banks, shops, stocks, or insurance companies difficult. A difference between the two economies is that median prices on the Grand Exchange only update, on average, once every 24 hours, usually resulting in a change in the price of an item of no more than 5% either way, whereas in unrestricted economies market prices may change in real time and there is no limit to how much the price can rise or fall in a given time. On top of this, there is a fundamental computer system limit on how many of an item, in this case coins, can be in one stack. The maximum number of an item that a player can hold in a stack is 2,147,483,647, as limited by a signed (positive and negative) 32-bit Integer, i.e. 231 - 1, thus this the highest amount an item can be valued at. See stackable items.

The RuneScape economy also lacks some key economic principles which arguably exist in the real world, including a lack of risk free investments and an absence of government enforcement for financial contracts. It also violates, among other concepts, the efficient market hypothesis. This means that capable merchants are able to predict the direction of prices accurately and make high profits, which is often untrue in the real world. These differences make the RuneScape economy simpler and much less diverse than the real world economy.

There are several currencies in RuneScape; most currencies, however, are used in trading between non-player characters and players in certain areas. Therefore, coins will be treated as the exclusive currency for player-to-player trading in this guide.

In general, there are several categories of items that players may obtain. Quest items and other untradeable items are not covered here, as they have little to no impact on the player economy. Four main item categories - primary products, consumables, finished items, and discontinued items - will be discussed in detail in this guide.

This guide is for informational purposes only, and may not reflect recent changes in the economy. In my opinion, we should run our economy reasonably, but first, we should farm more Runescape Gold as much as we can, so that we can use them to create more Runescape Gold and make a good economy in game.