Britain has a little island in the "Indian Ocean Territory" region, which belongs to the French Market. So they actually contribute 0.1% of GDP to the French Market at game start
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1. We'll get into more details on various forms of diplomatic control over other countries in a later DD, it is correct that shared markets only cover about half of what the Spheres of Influence entailed.
2. Generally speaking, if another country is in your market it is because you have invited them or hold some sway over them. In this case you can just kick them out or release them. However, in case a country actually holds a small parcel of land in your market (for example a Treaty Port) it's not that easy, and you would have to bully them into giving that territory up or take it back by force.
3. Yes, puppets join any Customs Unions their overlord accepts an invitation to.
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Base price setting is more art than science, but generally speaking Luxuries have a higher base price than Staples, manufactured goods cost more than resource goods, and high-tech goods cost more than low-tech goods.
If a building sells goods for 50 pounds and pays 40 for material and wages, the shareholders of that building are able to make 10 pounds in dividends - all money earned and spent is divvied up between Pops, Buildings, and Treasury in accordance with conditions like wage rate, laws, and so on. One thing we've struggled with, but found what we think is a very good solution for, is how to signal to the player whether a particular building is "good" or not given that everything benefits someone. The solution we've settled on is to determine a Productivity factor for each building which is equal to the amount of money each employee generates per year on average (not including wages, dividends, etc), and then compare that Productivity factor to other buildings worldwide both of the same type and across all types to translate it into a "health" factor. As a result you can see at a glance that one building generates £1.9 pounds per employee while another generates £7.1, and that the first might be good for its type (perhaps a Subsistence Farm) while the latter could be better for its type (perhaps it's a Steel Mill that's falling behind tech-wise compared to other Steel Mills worldwide).
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Pops could theoretically attempt to buy goods that is not produced or traded to a market - otherwise there would be no "demand" for that goods - but in practice Pops will substitute most of their demand for unavailable goods for locally available ones that can be used to fulfill the same need.
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It depends on why you're in the market to begin with. If you're in a Customs Union you agreed to of your own volition, you can simply leave it. If you're in a market controlled by your overlord, you will need to gain independence or change status to a subject that's permitted economic autonomy to gain control of your own market.
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For sure there is, but alas, that's another dev diary
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Welcome to Victoria <3
Having everything - war most definitely included - being inextricably tied to market mechanics is a major design pillar for us. No, you cannot stockpile military goods - which means you better hope you have a good gold reserve and either a solid domestic arms industry or reliable trading partners to ensure you don't experience overpricing or a shortage of the military goods you need to run your army at peak efficiency right as you're marching on the enemy capital.
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I may be dumb, but I don't understand from this picture why the price is lower than the base price.
Is there a tooltip when hovering over 26.8%?
I assume that the price is reduced by the ratio of production/consumption. So without the market, it would be reduced down to 30%? (Or maybe 60% if it's not 1 to 1)
But we only apply 26.8% of that reduction?
I don't see this explained in the screenshot (unless it's hiding in some tooltip).
Similarly, how do you know that the mill should produce 126 units of cloths? Does it say so in the tooltip? Or in another part of the window?
Maybe it would be better to write it out as 42/126? Same goes for the amount of dyes needed.
73.1% of the price in Orsha comes from the market price of £45.7 (higher than base price)
26.8% of the price comes from local production and consumption, which is £23.9 (this value is missing from the tooltip as it's never actually important to the player). If the Market Access had been 0% and Orsha was completely isolated, this would be the actual price.
45.7 * 0.731 + 23.9 * 0.268 = £39.8, slightly less than base pricing.
That the Textile Mill would produce 126 units of clothes if it did not experience a shortage is noted in the tooltip, yes.
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Regarding currencies and money supply:
Like in previous Victorias, the pound symbol is not to be taken as an assertion that all trade happen in British Pounds, but as a universal money symbol. I'd love to make a game with multiple currencies and a currency market but oh my god the implications
The "money supply" works on much the same principle: the pound is any arbitrary unit of value, not a literal bank note. When the money is stored in your treasury, it's a "gold reserve". When you're running a deficit, it's the "debt principal". When a Pop has some money left over, it's converted into Wealth (savings, investments, etc.) When a Pop lacks money, their Wealth is drained. The money supply, or value store as it were, is the sum total of Treasuries, building Cash Reserves, and Pop Wealth, if you want to think of it that way.
Like in previous Victorias, the pound symbol is not to be taken as an assertion that all trade happen in British Pounds, but as a universal money symbol. I'd love to make a game with multiple currencies and a currency market but oh my god the implications
The "money supply" works on much the same principle: the pound is any arbitrary unit of value, not a literal bank note. When the money is stored in your treasury, it's a "gold reserve". When you're running a deficit, it's the "debt principal". When a Pop has some money left over, it's converted into Wealth (savings, investments, etc.) When a Pop lacks money, their Wealth is drained. The money supply, or value store as it were, is the sum total of Treasuries, building Cash Reserves, and Pop Wealth, if you want to think of it that way.
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Next week! But as a spoiler, no it's not a national average, and rails are a must for NYC to get access to large quantities of resources from the Great Plains.
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The coin stacks represent how relatively cheap or expensive goods are. Big stack of gold, high demand / low supply. Small stack of copper, low demand / high supply.
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There's some inertia in the system, yes. For Pops, the inertia is their Wealth, which represents their savings. For shortages, including shortages in the military, there's a duration of time during which the penalties pile up. Some military goods are also needed to sustain your armies and navies even in peacetime.
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The USA, where the capital is Washington DC but the market capital is New York.
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If demand merely exceeds supply, but not by so much a shortage is indicated, the price will increase until it's prohibitively expensive. But goods shortages, which kick in when demand outstrips supply by a good margin, will drastically slow down the efficiency of all buildings - military, industry, construction, etc. This affects all functions of buildings: goods production, construction speed, military effectiveness.
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Well, nothing is impossible. But military stockpiles would insert a bit of inertia into the military system, which means that the economic aspect of warfare become relatively less important. Since your gold reserve already effectively acts as a stockpile, having military equipment stockpiles would mean two buffers would have to be depleted before the country runs into any kind of trouble. So from a design perspective it doesn't make a whole lot of sense given how the rest of the economic and military systems work. Hopefully the reasons will become clearer as we continue releasing more information!
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Given a certain amount of production, consumption, market access, etc etc a particular price will be computed, which does not change while conditions remain the same. Prices don't "drift", they are computed to an ideal value. This behavior is crucial to achieve the level of connection between cause and effect we were aiming for. There are plenty of other aspects that drift in response to prices, but prices themselves do not.
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In earlier versions of the internal build we actually had countries split into multiple markets, trying out a variety of design solutions for this, but none of them resulted in satisfying gameplay as keeping track of all your markets and managing goods flow between them felt more like a chore than anything else and made it very difficult to understand the overall economic situation in your country. Moving to a single national market basically just made for a better game as it allows the player to focus their efforts and have a far better understanding of the consequences of the actions they're taking in that market. That said, we haven't completely ruled out having special cases like separate colonial markets if we can get that working in a way that doesn't create the problems I mentioned above.
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Yes, to a point. It's important to understand that this is intertwined with the decision to not model goods stockpiling - if more goods are bought than sold (at a comparatively high price) on week 42, some of those goods changing hands might have been produced on week 41, or 27, or 6. In the real world, farms only have a few harvests per year and rely on granaries to ration the excess, doling their supply out over time in order to maximize their profits. The same also goes for other industries to different extents, depending on factors like shelf life, quality, technological obsolescence, etcetera. In Victoria 3, this stockpiling behavior is abstracted such that for as long as demand and supply remain balanced within some kind of reason, we assume that goods are available but expensive (until they're not - see shortages), and that all goods produced sell for a price (albeit perhaps a low price) even if there's not an end consumer that particular week. The end result is arguably more realistic, since goods actually being completely unavailable to buy at any price is - and was - a rare and very disruptive thing.
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There's really no need for it, since overproducing buildings will be operating on such low margins they can't afford to pay their workers, who as a result will seek better employment elsewhere which decreases production naturally.
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Yes and no.
Yes: the V2 model of an omnipresent national supermarket that everyone shops at is gone.
No: everyone's needs are not always perfectly supplied, since their ability to pay for their needs is dependent on their purchasing power. All purchasing economic agents do have stockpiles in the form of cash reserves or Wealth, and depleting those will result in adverse effects on actual people.
For example, if the price of Grain is very high, this will adversely affect the workers and owners of Food Industries and those Pops who survive on baking their own bread in the short term, while the owners of Farms will enrich themselves. In the longer term, if Food Industries can't pay high enough wages to retain their employees, both output of Groceries and demand for Grain will decrease. Eventually this will balance out the Food Industries but at the expense of Farm revenues and the Wealth of Pops who rely on Groceries.
No: you cannot operate the world economy at pre-shortage deficit level indefinitely as this will deplete Pop Wealth which will reduce demand and devastate the profitability of buildings. And when this happens in a single country, the people will eventually rise up and/or emigrate.
Yes: you can try to fix underproduction issues with subsidies, but this means paying tax revenue to keep production up. This cannot possibly be sustained long-term in anything but specific segments of an economy, typically strategic ones that other industries rely on.
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