YoWorld's Economy, otherwise commonly referred to as the YoEconomy, is the virtual economy formed by the hundreds of trades and transactions between YoWorlders on a day to day basis. Generally, the economy tends to change and take many forms. This happens in many ways, from supply and demand, right down to the worth of YoCash and YoCoins as currency themselves.
Factors[]
There are various factors that can help shape the YoEconomy. Such factors can cause for beneficial, or sometimes detrimental effects.
- Supply and Demand: As any economy works, the both the supply (the amount) of items and demand (the amount of desire for said item), contribute to the trending pricing of said item. The fewer copies of a particular item or asset there are in-game, the rarer it becomes. The more demand there is for a particular item or asset in the game, the higher the value is. These are both factors that can contribute to an item's rising in price. However, if there is an item with little demand and many copies available in-game, chances are the trending price will be lower as its value decreases.
- Balance - Inflation and Deflation: At the core of the YoEconomy, lie YoCash and YoCoins, two of YoWorld's main forms of currency. The value of either could have effects on the economy in massive ways. In the case of inflation of either currency, one can expect the pricing of items to increase within the entire game. Inflation occurs when there is an excess of either YoCoins or YoCash circulating through the game. To adjust to this change, many sellers will raise the prices of their goods, since there is plenty to be made. However, in the opposite case, when it is very little amounts of YoCoins and YoCash circulating through the economy, sellers tend to sell items for less because there is less to be made and some old prices become unaffordable to most players, so prices may fall.
- Developer Intervention: Sometimes measures are taken by the developers to artificially modify, enhance, or fix the YoEconomy. Such measures can include adding more ways to earn YoCoins in the game so that the amount of YoCoins circulating through the game rises, or raising prices of store items to purge the game of excess currency. In both cases, the economy is affected, and other measures have also been taken before not mentioned here.
- Player Intervention: Sometimes, with enough influence, a player or group of players, can strategically change the trending price of an item in YoWorld's Economy. This is done using multiple methods, and the outcomes can be unfavorable for many players. It is from practices like these that the term Price Jacking was born, a price jacker being someone who in YoWorld, is able to manipulate the economy to raise the value or create false value for an item in their possession in order to obtain more profits from said item.
- Price Guides: Price Guides are also another form of player intervention in the economy. Through YoWorld's history players have heavily relied upon price guides to help them decide at which prices to sell their items. They are the player and fan-created communities that collect data on trending prices for various items in the YoEconomy and share this information on their platforms for players to view. This however also has the tendency to sometimes unintentionally cause issues in the economy like economic lag or other forms of value inaccuracies. Many prices in price guides aren't always up to date or even accurate, so it is reasonable to look to other sources as well.