Define Catalactics.

Catalactics is the branch of economics that deals with the theory of exchange and market processes. It focuses on how prices are formed, how resources are allocated, and how goods and services are distributed within an economy through voluntary exchanges. The term is often associated with the Austrian School of economics, which emphasizes the role of individual decision-making and the importance of market mechanisms in coordinating economic activity. Catalactics examines the behavior of individuals as they engage in trade, the formation of prices, and the way markets facilitate the efficient allocation of resources.